Global Retirement Partners LLC Raises Holdings in GE Vernova Inc. $GEV

Key Points

• Global Retirement Partners LLC increased its GE Vernova stake by 57.7% in the fourth quarter, ending with 11,034 shares valued at about $7.21 million.
• GE Vernova reported strong quarterly earnings, with EPS of $17.44 versus the $1.95 consensus, and revenue of $9.34 billion, up 17% year over year.
• The company also announced a quarterly dividend of $0.50 per share, while analysts remain broadly positive with an average rating of “Moderate Buy” and an average price target of $1,090.76.

Global Retirement Partners LLC grew its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 57.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,034 shares of the company's stock after acquiring an additional 4,037 shares during the quarter. Global Retirement Partners LLC's holdings in GE Vernova were worth $7,211,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. OneAscent Investment Solutions LLC increased its holdings in shares of GE Vernova by 5.3% in the 4th quarter. OneAscent Investment Solutions LLC now owns 715 shares of the company's stock valued at $467,000 after acquiring an additional 36 shares during the last quarter. Twin Capital Management Inc. increased its holdings in shares of GE Vernova by 0.8% in the 4th quarter. Twin Capital Management Inc. now owns 2,341 shares of the company's stock valued at $1,530,000 after acquiring an additional 19 shares during the last quarter. Prevail Innovative Wealth Advisors LLC increased its holdings in shares of GE Vernova by 6.2% in the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 9,469 shares of the company's stock valued at $6,189,000 after acquiring an additional 552 shares during the last quarter. Elk River Wealth Management LLC increased its holdings in shares of GE Vernova by 3.9% in the 4th quarter. Elk River Wealth Management LLC now owns 5,436 shares of the company's stock valued at $3,550,000 after acquiring an additional 203 shares during the last quarter. Finally, Cypress Capital LLC purchased a new position in shares of GE Vernova in the 4th quarter valued at about $226,000.

Insiders Place Their Bets

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

GE Vernova Stock Up 2.0%

GE Vernova stock opened at $1,045.50 on Friday. GE Vernova Inc. has a twelve month low of $448.45 and a twelve month high of $1,181.95. The stock has a 50 day moving average of $974.20 and a two-hundred day moving average of $788.53. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $280.95 billion, a price-to-earnings ratio of 30.45, a PEG ratio of 3.84 and a beta of 1.51.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data 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 return on equity of 43.97% and a net margin of 23.81%.The company had revenue of $9.34 billion during the quarter, compared to analysts' expectations of $9.19 billion. During the same period last year, the firm earned $0.91 EPS. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. As a group, research analysts expect that GE Vernova Inc. will post 14.84 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be given 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 presently 5.83%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GEV. Citigroup increased their price objective on GE Vernova from $779.00 to $1,110.00 and gave the company a "neutral" rating in a report on Monday, April 13th. JPMorgan Chase & Co. increased their price objective on GE Vernova from $1,000.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. Wells Fargo & Company increased their price objective on GE Vernova from $831.00 to $896.00 and gave the company an "overweight" rating in a report on Tuesday, March 31st. Jefferies Financial Group increased their price objective on GE Vernova from $965.00 to $1,350.00 and gave the company a "buy" rating in a report on Friday, April 24th. Finally, BMO Capital Markets raised their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,090.76.

GE Vernova Company 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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