Gerber Kawasaki Wealth & Investment Management Has $12.53 Million Stock Holdings in GE Vernova Inc. $GEV

Key Points

• Gerber Kawasaki Wealth & Investment Management increased its GE Vernova stake by 23.8% in the fourth quarter, ending with 19,159 shares valued at about $12.53 million.
• Several insiders sold shares recently, including CAO Matthew Joseph Potvin and CEO Victor Abate, who both reduced their positions significantly in separate transactions.
• GE Vernova reported strong quarterly results, with EPS and revenue both beating expectations, and analysts remain broadly bullish with a Moderate Buy consensus and an average target price of $1,085.16.

Gerber Kawasaki Wealth & Investment Management raised its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 23.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,159 shares of the company's stock after buying an additional 3,677 shares during the period. Gerber Kawasaki Wealth & Investment Management's holdings in GE Vernova were worth $12,533,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Torren Management LLC acquired a new stake in GE Vernova in the fourth quarter valued at approximately $26,000. Jackson Grant Investment Advisers Inc. boosted its position in GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company's stock valued at $25,000 after buying an additional 31 shares in the last quarter. Wealth Watch Advisors INC acquired a new stake in GE Vernova in the third quarter valued at approximately $25,000. ORG Wealth Partners LLC boosted its position in GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock valued at $27,000 after buying an additional 29 shares in the last quarter. Finally, Navalign LLC acquired a new stake in GE Vernova in the fourth quarter valued at approximately $27,000.

Insiders Place Their Bets

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction 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 of the company's stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer directly owned 1,835 shares of the company's stock, valued at $1,739,726.80. This represents a 72.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by company insiders.

GE Vernova Price Performance

GEV stock opened at $940.14 on Friday. The company has a fifty day moving average price of $1,008.85 and a 200-day moving average price of $831.73. The company has a market capitalization of $252.63 billion, a P/E ratio of 27.39, a PEG ratio of 3.36 and a beta of 1.23. GE Vernova Inc. has a 52-week low of $474.21 and a 52-week high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter last year, the firm earned $0.91 earnings per share. GE Vernova's quarterly revenue was up 17.0% on a year-over-year basis. As a group, equities analysts expect that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GEV shares. BNP Paribas Exane lowered shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 target price on the stock. in a research report on Monday, April 27th. TD Cowen raised their target price on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Robert W. Baird raised their price target on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Finally, Guggenheim raised their price target on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,085.16.

About GE Vernova

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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