Hartline Investment Corp Has $10.67 Million Stake in GE Vernova Inc. $GEV

Key Points

• Hartline Investment Corp increased its stake in GE Vernova by 11.2% in the fourth quarter, ending with 16,330 shares valued at about $10.67 million. GE Vernova now makes up roughly 1.2% of the firm’s portfolio.
• GE Vernova reported a major earnings beat for the latest quarter, posting $17.44 EPS versus the $1.95 consensus estimate, while revenue came in at $9.34 billion, above expectations. Revenue also rose 17% year over year.
• The company announced a quarterly dividend of $0.50 per share payable July 14, and analysts currently rate the stock a Moderate Buy with an average price target of $1,090.76.

Hartline Investment Corp lifted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,330 shares of the company's stock after purchasing an additional 1,649 shares during the period. GE Vernova accounts for approximately 1.2% of Hartline Investment Corp's portfolio, making the stock its 23rd biggest holding. Hartline Investment Corp's holdings in GE Vernova were worth $10,673,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Coldstream Capital Management Inc. increased its stake in shares of GE Vernova by 5.1% in the fourth quarter. Coldstream Capital Management Inc. now owns 7,675 shares of the company's stock worth $5,017,000 after purchasing an additional 373 shares during the period. Berkshire Capital Holdings Inc. increased its stake in shares of GE Vernova by 229,500.0% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 22,960 shares of the company's stock worth $15,006,000 after purchasing an additional 22,950 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of GE Vernova by 4.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,148 shares of the company's stock worth $2,057,000 after purchasing an additional 126 shares during the period. Americana Partners LLC increased its stake in shares of GE Vernova by 64.5% in the fourth quarter. Americana Partners LLC now owns 2,743 shares of the company's stock worth $1,793,000 after purchasing an additional 1,076 shares during the period. Finally, Evoke Wealth LLC increased its stake in shares of GE Vernova by 8.3% in the fourth quarter. Evoke Wealth LLC now owns 2,232 shares of the company's stock worth $1,459,000 after purchasing an additional 171 shares during the period.

GE Vernova Stock Down 0.4%

NYSE GEV opened at $1,039.71 on Friday. 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's 50 day moving average is $978.06 and its two-hundred day moving average is $790.29. The company has a market capitalization of $279.39 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 3.89 and a beta of 1.51. GE Vernova Inc. has a 1-year low of $458.65 and a 1-year high of $1,181.95.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $15.49. The company had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 earnings per share. Equities analysts forecast that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal 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 issued 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 payout ratio is presently 5.83%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GEV. Mizuho set a $714.00 price objective on GE Vernova in a research note on Tuesday, February 3rd. Weiss Ratings upgraded GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, April 24th. JPMorgan Chase & Co. lifted their price objective on GE Vernova from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th. The Goldman Sachs Group reiterated a "buy" rating and issued a $1,328.00 price objective on shares of GE Vernova in a research note on Friday, April 24th. Finally, Zacks Research lowered GE Vernova from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 28th. Two investment 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,090.76.

Insiders Place Their Bets

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova 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 sale, the chief accounting officer directly owned 3,549 shares of the company's stock, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. 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.

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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.