Pittenger & Anderson Inc. Raises Stock Holdings in GE Vernova Inc. $GEV

Key Points

• Pittenger & Anderson Inc. boosted its GE Vernova stake by 568.3% in the first quarter, ending with 1,370 shares valued at about $1.196 million.
• Several analysts remain positive on GE Vernova, with multiple firms raising price targets; the stock’s consensus rating is Moderate Buy and the average target price is $1,089.88.
• GE Vernova reported strong quarterly results, including EPS of $17.44 versus $1.95 expected and revenue of $9.34 billion, while also declaring a $0.50 quarterly dividend.

Pittenger & Anderson Inc. increased its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 568.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,370 shares of the company's stock after purchasing an additional 1,165 shares during the period. Pittenger & Anderson Inc.'s holdings in GE Vernova were worth $1,196,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its position in GE Vernova by 29.4% during the fourth 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 during the last quarter. Schnieders Capital Management LLC. increased its holdings 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 worth $828,000 after buying an additional 26 shares during the last quarter. Jump Financial LLC bought a new position in shares of GE Vernova in the 2nd quarter worth $258,000. Ossiam purchased a new stake in shares of GE Vernova during the 2nd quarter valued at $42,000. Finally, Nebula Research & Development LLC raised its position in shares of GE Vernova by 23.9% during the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company's stock valued at $886,000 after buying an additional 323 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have recently issued reports on GEV. Morgan Stanley lifted their price objective on shares of GE Vernova from $817.00 to $960.00 and gave the stock an "overweight" rating in a report on Monday, March 23rd. Wall Street Zen raised GE Vernova from a "hold" rating to a "buy" rating in a research note on Sunday. Sanford C. Bernstein began coverage on GE Vernova in a research report on Tuesday, June 16th. They set an "outperform" rating and a $1,206.00 price target on the stock. Barclays lifted their price target on GE Vernova from $993.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Thursday, April 23rd. Finally, Wells Fargo & Company upped their price objective on GE Vernova from $831.00 to $896.00 and gave the stock an "overweight" rating in a report on Tuesday, March 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,089.88.

GE Vernova Stock Down 0.1%

Shares of NYSE:GEV opened at $1,090.64 on Monday. The stock's 50-day moving average price is $1,040.14 and its 200-day moving average price is $896.97. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The stock has a market capitalization of $293.08 billion, a P/E ratio of 31.77, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping the consensus estimate of $1.95 by $15.49. The firm had revenue of $9.34 billion for 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 company's quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share. On average, equities analysts anticipate that GE Vernova Inc. will post 15.06 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 paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova's payout ratio is 5.83%.

Insider Activity at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the business'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 value of $2,470,856.97. Following the completion of the sale, 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 can be accessed through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company's stock.

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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