Genus Capital Management Inc. Has $8.73 Million Position in GE Vernova Inc. $GEV

Key Points

• Genus Capital Management cut its GE Vernova stake by 24.1% in the fourth quarter, leaving it with 13,355 shares valued at about $8.73 million.
• GE Vernova reported very strong quarterly earnings, posting $17.44 EPS versus expectations of $1.95 and revenue of $9.34 billion, up 17% year over year.
• The company also announced a quarterly dividend of $0.50 per share, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $1,090.76.

Genus Capital Management Inc. reduced its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 24.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,355 shares of the company's stock after selling 4,230 shares during the period. Genus Capital Management Inc.'s holdings in GE Vernova were worth $8,728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. RFG Advisory LLC boosted its stake in shares of GE Vernova by 2.1% in the 4th quarter. RFG Advisory LLC now owns 634 shares of the company's stock valued at $414,000 after purchasing an additional 13 shares in the last quarter. Voisard Asset Management Group Inc. boosted its stake in shares of GE Vernova by 2.7% in the 4th quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company's stock valued at $376,000 after purchasing an additional 15 shares in the last quarter. Clean Yield Group boosted its stake in shares of GE Vernova by 2.2% in the 4th quarter. Clean Yield Group now owns 685 shares of the company's stock valued at $448,000 after purchasing an additional 15 shares in the last quarter. Rossmore Private Capital boosted its stake in shares of GE Vernova by 2.8% in the 4th quarter. Rossmore Private Capital now owns 559 shares of the company's stock valued at $365,000 after purchasing an additional 15 shares in the last quarter. Finally, Forefront Wealth Partners LLC boosted its stake in shares of GE Vernova by 1.5% in the 4th quarter. Forefront Wealth Partners LLC now owns 997 shares of the company's stock valued at $652,000 after purchasing an additional 15 shares in the last quarter.

GE Vernova Stock Up 0.1%

NYSE:GEV opened at $1,039.71 on Monday. The firm's 50 day simple moving average is $978.06 and its 200 day simple moving average is $791.75. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. GE Vernova Inc. has a one year low of $458.65 and a one year high of $1,181.95. The company has a market cap of $279.39 billion, a PE ratio of 30.29, a P/E/G ratio of 3.89 and a beta of 1.51.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period last year, the company earned $0.91 EPS. The firm's revenue was up 17.0% compared to the same quarter last year. On average, research analysts anticipate that GE Vernova Inc. will post 14.84 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is presently 5.83%.

Insider Transactions at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GEV shares. Jefferies Financial Group raised their price target on shares of GE Vernova from $965.00 to $1,350.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Mizuho set a $714.00 target price on shares of GE Vernova in a research report on Tuesday, February 3rd. UBS Group reiterated a "buy" rating on shares of GE Vernova in a research report on Thursday, January 29th. Wall Street Zen upgraded shares of GE Vernova from a "hold" rating to a "buy" rating in a research report on Saturday, January 31st. Finally, Wells Fargo & Company lifted their target price on shares of GE Vernova from $831.00 to $896.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,090.76.

GE Vernova Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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