Maridea Wealth Management LLC Invests $1.43 Million in GE Vernova Inc. $GEV

Key Points

• Maridea Wealth Management opened a new position in GE Vernova, buying 1,632 shares valued at about $1.43 million in the first quarter.
• GE Vernova’s latest quarterly results were strong, with EPS of $17.44 and revenue of $9.34 billion, both ahead of analyst expectations and up 17% year over year.
• Wall Street remains broadly positive on the stock: analysts currently have a Moderate Buy consensus rating, though the shares were reported as down 3.7% and insider selling has also been noted recently.

Maridea Wealth Management LLC purchased a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,632 shares of the company's stock, valued at approximately $1,425,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bell Investment Advisors Inc raised its holdings in GE Vernova by 5.2% in the 1st quarter. Bell Investment Advisors Inc now owns 221 shares of the company's stock valued at $193,000 after acquiring an additional 11 shares during the last quarter. Sky Investment Group LLC grew its position in shares of GE Vernova by 0.5% in the first quarter. Sky Investment Group LLC now owns 2,405 shares of the company's stock valued at $2,099,000 after purchasing an additional 12 shares in the last quarter. Hilton Head Capital Partners LLC increased its holdings in shares of GE Vernova by 2.6% in the first quarter. Hilton Head Capital Partners LLC now owns 476 shares of the company's stock valued at $416,000 after purchasing an additional 12 shares during the last quarter. RFG Advisory LLC lifted its position in GE Vernova by 2.1% during the fourth quarter. RFG Advisory LLC now owns 634 shares of the company's stock worth $414,000 after buying an additional 13 shares in the last quarter. Finally, BlackDiamond Wealth Management LLC lifted its position in GE Vernova by 2.8% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company's stock worth $308,000 after buying an additional 13 shares in the last quarter.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent research reports. Weiss Ratings raised GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, April 24th. BNP Paribas Exane lowered shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 price objective for the company. in a report on Monday, April 27th. Sanford C. Bernstein started coverage on shares of GE Vernova in a research report on Tuesday, June 16th. They set an "outperform" rating and a $1,206.00 price objective for the company. Oppenheimer set a $1,303.00 target price on shares of GE Vernova in a research note on Thursday, April 23rd. Finally, Guggenheim boosted their target price on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a "buy" rating in a 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 issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,089.88.

GE Vernova Stock Down 3.7%

GE Vernova stock opened at $1,045.74 on Friday. The company has a market capitalization of $281.01 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 4.02 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. GE Vernova Inc. has a fifty-two week low of $482.20 and a fifty-two week high of $1,181.95. The firm has a 50 day moving average price of $1,031.16 and a 200 day moving average price of $863.97.

GE Vernova (NYSE:GEV - Get Free Report) last issued 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 business had revenue of $9.34 billion during the quarter, compared to analysts' expectations of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company's revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 earnings per share. Research analysts expect that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova's payout ratio is currently 5.83%.

Insider Activity at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction that occurred on Thursday, May 14th. The shares were 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 owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred on 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 transaction, the chief executive officer owned 1,835 shares of the company's stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company's stock.

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.

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