IPG Investment Advisors LLC Raises Stock Position in GE Vernova Inc. $GEV

IPG Investment Advisors LLC grew its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 703.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,257 shares of the company's stock after purchasing an additional 3,727 shares during the period. IPG Investment Advisors LLC's holdings in GE Vernova were worth $2,782,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. increased its stake in GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company's stock worth $25,000 after purchasing an additional 31 shares during the period. Wealth Watch Advisors INC purchased a new stake in GE Vernova during the third quarter worth about $25,000. Torren Management LLC purchased a new stake in GE Vernova during the fourth quarter worth about $26,000. ORG Wealth Partners LLC increased its stake in GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock worth $27,000 after purchasing an additional 29 shares during the period. Finally, Navalign LLC purchased a new stake in GE Vernova during the fourth quarter worth about $27,000.

GE Vernova Stock Performance

Shares of GEV opened at $1,031.61 on Thursday. The stock has a 50 day moving average price of $991.69 and a 200 day moving average price of $802.21. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $277.21 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 4.01 and a beta of 1.51. GE Vernova Inc. has a 52-week low of $458.65 and a 52-week high of $1,181.95.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 by $15.49. The firm had revenue of $9.34 billion during 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 firm's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 earnings per share. Research analysts predict that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be issued a $0.50 dividend. 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 is 5.83%.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of GE Vernova from a "hold" rating to a "buy" rating in a research note on Saturday, January 31st. Mizuho set a $714.00 target price on shares of GE Vernova in a research note on Tuesday, February 3rd. Royal Bank Of Canada upped their target price on shares of GE Vernova from $996.00 to $1,195.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. Citigroup upped their target price on shares of GE Vernova from $779.00 to $1,110.00 and gave the stock a "neutral" rating in a research note on Monday, April 13th. Finally, Morgan Stanley upped their target price on shares of GE Vernova from $817.00 to $960.00 and gave the stock an "overweight" rating in a research note on Monday, March 23rd. Two research 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 company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,090.76.

Insider Transactions at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the company's 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 value of $2,470,856.97. Following the completion of the transaction, the chief accounting officer directly owned 3,549 shares of the company's stock, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is owned by company insiders.

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.

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.