Kiley Juergens Wealth Management LLC Takes Position in GE Vernova Inc. $GEV

Key Points

• Kiley Juergens Wealth Management LLC opened a new position in GE Vernova during the first quarter, buying 7,263 shares valued at about $6.34 million. The stake represents roughly 1.1% of its portfolio and is now its 17th largest holding.
• Insider selling was notable, with CEO Victor Abate and CAO Matthew Joseph Potvin both reducing their holdings through recent stock sales. Corporate insiders now own just 0.21% of the company.
• GE Vernova has drawn bullish analyst coverage, including multiple raised price targets and a consensus rating of “Moderate Buy.” The company also reported strong quarterly results, including EPS of $17.44 versus expectations of $1.95 and revenue growth of 17% year over year.

Kiley Juergens Wealth Management LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,263 shares of the company's stock, valued at approximately $6,340,000. GE Vernova accounts for approximately 1.1% of Kiley Juergens Wealth Management LLC's investment portfolio, making the stock its 17th biggest position.

Other large investors have also recently bought and sold shares of the company. World Investment Advisors raised its holdings in shares of GE Vernova by 19.9% during the fourth quarter. World Investment Advisors now owns 13,497 shares of the company's stock worth $8,821,000 after acquiring an additional 2,241 shares during the period. Merit Financial Group LLC boosted its stake in GE Vernova by 17.4% in the 4th quarter. Merit Financial Group LLC now owns 15,080 shares of the company's stock worth $9,856,000 after purchasing an additional 2,230 shares during the period. Vest Financial LLC increased its holdings in GE Vernova by 56.7% during the 4th quarter. Vest Financial LLC now owns 66,191 shares of the company's stock worth $43,260,000 after purchasing an additional 23,956 shares in the last quarter. Riverbend Wealth Management LLC acquired a new stake in shares of GE Vernova in the 4th quarter valued at about $567,000. Finally, RiverFront Investment Group LLC raised its stake in shares of GE Vernova by 239.2% in the 4th quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company's stock valued at $1,432,000 after purchasing an additional 1,545 shares during the period.

Insider Activity

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

Analyst Upgrades and Downgrades

GEV has been the subject of several recent research reports. Erste Group Bank raised GE Vernova to a "strong-buy" rating in a research report on Tuesday, March 24th. BMO Capital Markets boosted their target price on GE Vernova from $1,110.00 to $1,250.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. Morgan Stanley upped their price target on GE Vernova from $817.00 to $960.00 and gave the stock an "overweight" rating in a research report on Monday, March 23rd. The Goldman Sachs Group reiterated a "buy" rating and issued a $1,328.00 price objective on shares of GE Vernova in a report on Friday, April 24th. Finally, Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a research report on Thursday, April 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,089.88.

GE Vernova Stock Performance

NYSE GEV traded down $119.59 during trading on Tuesday, reaching $1,032.45. 1,546,946 shares of the company's stock were exchanged, compared to its average volume of 2,787,790. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The business has a 50 day moving average price of $1,042.04 and a 200-day moving average price of $881.37. The stock has a market capitalization of $277.44 billion, a P/E ratio of 30.07, a PEG ratio of 4.11 and a beta of 1.09. GE Vernova Inc. has a fifty-two week low of $511.50 and a fifty-two week high of $1,195.94.

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 (EPS) for the quarter, beating 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 posted $0.91 earnings per share. The business's revenue was up 17.0% on a year-over-year basis. Sell-side analysts forecast that GE Vernova Inc. will post 15.05 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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 $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova's payout ratio is currently 5.83%.

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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