Knights of Columbus Asset Advisors LLC Raises Stake in GE Vernova Inc. $GEV

Key Points

• Knights of Columbus Asset Advisors LLC increased its stake in GE Vernova by 130.5% in the fourth quarter, raising its holdings to 4,342 shares valued at about $2.84 million.
• GE Vernova reported strong quarterly results, with EPS of $17.44 and revenue of $9.34 billion, both ahead of analyst estimates; revenue also rose 17% year over year.
• Wall Street sentiment remains constructive, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating and average target price of about $1,090.76.

Knights of Columbus Asset Advisors LLC boosted its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 130.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,342 shares of the company's stock after buying an additional 2,458 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in GE Vernova were worth $2,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

GE Vernova Stock Performance

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

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating analysts' consensus estimates of $1.95 by $15.49. The company 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 revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 earnings per share. Equities research analysts predict that GE Vernova Inc. will post 14.84 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors 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 dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova's dividend payout ratio is currently 5.83%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GEV. TD Cowen increased their price objective on GE Vernova from $780.00 to $1,220.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. 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 research note on Thursday, April 16th. Weiss Ratings raised GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, April 24th. The Goldman Sachs Group reissued a "buy" rating and set a $1,328.00 price objective on shares of GE Vernova in a research note on Friday, April 24th. Finally, Rothschild & Co Redburn raised GE Vernova from a "sell" rating to a "buy" rating and increased their price objective for the company from $560.00 to $1,100.00 in a research note on Monday, March 9th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,090.76.

Insider Activity 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 transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

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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