NCM Capital Management LLC Has $1.48 Million Stock Position in GE Vernova Inc. $GEV

Key Points

• NCM Capital Management increased its GE Vernova stake by 316% in the fourth quarter, ending with 2,267 shares valued at about $1.48 million.
• GE Vernova reported strong quarterly results, with EPS of $17.44 versus estimates of $1.95 and revenue of $9.34 billion, up 17% year over year.
• The company also 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 $1,089.88.

NCM Capital Management LLC lifted its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 316.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,267 shares of the company's stock after buying an additional 1,722 shares during the period. NCM Capital Management LLC's holdings in GE Vernova were worth $1,482,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GEV. Brighton Jones LLC lifted its holdings in shares of GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after purchasing an additional 753 shares in the last quarter. Schnieders Capital Management LLC. grew its position in shares of GE Vernova by 1.7% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company's stock valued at $828,000 after purchasing an additional 26 shares during the period. Jump Financial LLC bought a new stake in GE Vernova during the 2nd quarter worth approximately $258,000. Ossiam acquired a new stake in GE Vernova during the 2nd quarter worth approximately $42,000. Finally, Nebula Research & Development LLC raised its holdings in GE Vernova by 23.9% during the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company's stock worth $886,000 after buying an additional 323 shares during the period.

GE Vernova Trading Up 0.2%

NYSE:GEV opened at $1,111.65 on Friday. The company has a market cap of $298.72 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 4.11 and a beta of 1.23. GE Vernova Inc. has a twelve month low of $479.04 and a twelve month high of $1,181.95. The business has a 50 day moving average price of $1,022.78 and a two-hundred day moving average price of $847.85. 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 posted 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. The company had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm's revenue was up 17.0% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share. As a group, analysts expect that GE Vernova Inc. will post 14.99 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. Shareholders of record on Tuesday, June 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova's payout ratio is presently 5.83%.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of research reports. Zacks Research lowered shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 28th. Erste Group Bank upgraded shares of GE Vernova to a "strong-buy" rating in a report on Tuesday, March 24th. Royal Bank Of Canada boosted their price objective on shares of GE Vernova from $996.00 to $1,195.00 and gave the company an "outperform" rating in a research report on Thursday, April 23rd. TD Cowen upped 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 note on Thursday, April 23rd. Finally, Wells Fargo & Company increased their target price on GE Vernova from $831.00 to $896.00 and gave the stock an "overweight" rating in a report on Tuesday, March 31st. 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,089.88.

Insider Activity

In other news, CEO Victor Abate sold 4,819 shares of the 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 transaction, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $3,758,710.41. The trade was a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company's stock.

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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

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.