Knollwood Investment Advisory LLC Raises Holdings in GE Vernova Inc. $GEV

Key Points

• Knollwood Investment Advisory sharply increased its GE Vernova stake by 290.8% in the fourth quarter, bringing its holdings to 6,093 shares valued at about $3.98 million.
• GE Vernova posted a strong quarterly update, reporting $17.44 EPS versus the expected $1.95 and $9.34 billion in revenue, which was also ahead of estimates and up 17% year over year.
• The company declared a quarterly dividend of $0.50 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $1,085.16.

Knollwood Investment Advisory LLC lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 290.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,093 shares of the company's stock after purchasing an additional 4,534 shares during the period. Knollwood Investment Advisory LLC's holdings in GE Vernova were worth $3,982,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Jackson Grant Investment Advisers Inc. increased its stake in shares of GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company's stock worth $25,000 after purchasing an additional 31 shares in the last quarter. Cornerstone Financial Management LLC purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC purchased a new position in shares of GE Vernova during the 3rd quarter worth approximately $25,000. Torren Management LLC purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $26,000. Finally, ORG Wealth Partners LLC increased its stake in shares of GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock worth $27,000 after purchasing an additional 29 shares in the last quarter.

GE Vernova Stock Up 3.7%

Shares of GEV opened at $940.14 on Friday. The firm has a market cap of $252.63 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 3.49 and a beta of 1.23. The company's fifty day moving average is $1,008.85 and its two-hundred day moving average is $831.73. GE Vernova Inc. has a fifty-two week low of $474.21 and a fifty-two week high of $1,181.95. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19.

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 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 analyst estimates of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. GE Vernova's revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the business earned $0.91 EPS. Analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently declared 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 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 (DPR) is 5.83%.

Analysts Set New Price Targets

GEV has been the subject of a number of recent research reports. 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. TD Cowen raised their target price on shares of GE Vernova from $780.00 to $1,220.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Weiss Ratings upgraded shares of GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, April 24th. Oppenheimer set a $1,303.00 target price on shares of GE Vernova in a research report on Thursday, April 23rd. Finally, Wells Fargo & Company raised their target price on shares of GE Vernova from $831.00 to $896.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,085.16.

Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction on Thursday, May 14th. The shares were 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 approximately $3,758,710.41. This trade represents 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 company insiders.

GE Vernova 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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