Prospera Financial Services Inc Cuts Stock Holdings in GE Vernova Inc. $GEV

Key Points

• Prospera Financial Services cut its GE Vernova stake by 57.5% in the fourth quarter, leaving it with 4,367 shares valued at about $2.86 million.
• GE Vernova reported strong quarterly results, including EPS of $17.44 versus a $1.95 estimate and revenue of $9.34 billion, up 17% year over year.
• The company declared a quarterly dividend of $0.50 per share, while analysts remain largely bullish with a consensus rating of Moderate Buy and an average price target of $1,090.76.

Prospera Financial Services Inc reduced its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 57.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,367 shares of the company's stock after selling 5,908 shares during the period. Prospera Financial Services Inc's holdings in GE Vernova were worth $2,859,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GEV. RFG Advisory LLC increased its stake in GE Vernova by 2.1% during the 4th quarter. RFG Advisory LLC now owns 634 shares of the company's stock worth $414,000 after buying an additional 13 shares during the period. Voisard Asset Management Group Inc. increased its stake in GE Vernova by 2.7% during the 4th quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company's stock worth $376,000 after buying an additional 15 shares during the period. Clean Yield Group increased its stake in GE Vernova by 2.2% during the 4th quarter. Clean Yield Group now owns 685 shares of the company's stock worth $448,000 after buying an additional 15 shares during the period. Rossmore Private Capital increased its stake in GE Vernova by 2.8% during the 4th quarter. Rossmore Private Capital now owns 559 shares of the company's stock worth $365,000 after buying an additional 15 shares during the period. Finally, Forefront Wealth Partners LLC increased its stake in GE Vernova by 1.5% during the 4th quarter. Forefront Wealth Partners LLC now owns 997 shares of the company's stock worth $652,000 after buying an additional 15 shares during the period.

Insider Activity at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova 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 directly owned 3,549 shares of the company's stock, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.21% of the company's stock.

GE Vernova Price Performance

Shares of GEV stock opened at $1,071.65 on Wednesday. The firm has a market cap of $287.97 billion, a P/E ratio of 31.22, a P/E/G ratio of 3.89 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. GE Vernova Inc. has a 1-year low of $458.65 and a 1-year high of $1,181.95. The firm has a fifty day moving average of $987.58 and a two-hundred day moving average of $798.82.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same period last year, the business earned $0.91 EPS. The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, research analysts anticipate that GE Vernova Inc. will post 14.84 earnings per share 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. Stockholders of record on Tuesday, June 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's payout ratio is 5.83%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GEV. Royal Bank Of Canada lifted their price target on shares of GE Vernova from $996.00 to $1,195.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. TD Cowen raised their price objective on shares of GE Vernova from $780.00 to $1,220.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. 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. Robert W. Baird raised their price objective on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Finally, Guggenheim raised their price objective on shares of GE Vernova from $910.00 to $1,300.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,090.76.

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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