Redwood Wealth Management Group LLC Sells 214,950 Shares of GE Vernova Inc. $GEV

Key Points

• Redwood Wealth Management Group slashed its GE Vernova stake by 99.8% in Q1, selling 214,950 shares and ending with just 433 shares worth about $378,000.
• GE Vernova posted a strong quarterly beat, reporting $17.44 EPS versus the $1.95 estimate and revenue of $9.34 billion, up 17% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $1,089.88, while the shares recently traded near their 52-week high.

Redwood Wealth Management Group LLC lowered its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 99.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 433 shares of the company's stock after selling 214,950 shares during the period. Redwood Wealth Management Group LLC's holdings in GE Vernova were worth $378,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Global Trust Asset Management LLC grew its position in GE Vernova by 44.3% in the first quarter. Global Trust Asset Management LLC now owns 1,062 shares of the company's stock valued at $927,000 after acquiring an additional 326 shares during the last quarter. iA Global Asset Management Inc. raised its stake in GE Vernova by 109.7% during the first quarter. iA Global Asset Management Inc. now owns 43,993 shares of the company's stock worth $38,401,000 after acquiring an additional 23,013 shares in the last quarter. First Pacific Financial lifted its holdings in shares of GE Vernova by 39.0% in the first quarter. First Pacific Financial now owns 57 shares of the company's stock worth $50,000 after acquiring an additional 16 shares during the last quarter. Premier Path Wealth Partners LLC lifted its holdings in shares of GE Vernova by 8.0% in the first quarter. Premier Path Wealth Partners LLC now owns 2,056 shares of the company's stock worth $1,795,000 after acquiring an additional 152 shares during the last quarter. Finally, Asset Planning Inc boosted its stake in shares of GE Vernova by 23.8% in the 1st quarter. Asset Planning Inc now owns 130 shares of the company's stock valued at $114,000 after purchasing an additional 25 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of GE Vernova from $779.00 to $1,110.00 and gave the company a "neutral" rating in a report on Monday, April 13th. BMO Capital Markets increased their price objective on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an "outperform" rating in a research note 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 target price on the stock. in a research report on Monday, April 27th. Wells Fargo & Company boosted their target price on shares of GE Vernova from $831.00 to $896.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 31st. Finally, Erste Group Bank upgraded shares of GE Vernova to a "strong-buy" rating in a report on Tuesday, March 24th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and a consensus target price of $1,089.88.

GE Vernova Stock Performance

NYSE:GEV opened at $1,172.73 on Wednesday. The stock has a market cap of $315.14 billion, a P/E ratio of 34.16, a price-to-earnings-growth ratio of 4.09 and a beta of 1.23. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The stock's 50-day moving average is $1,037.02 and its 200-day moving average is $872.20. GE Vernova Inc. has a 1-year low of $482.20 and a 1-year high of $1,181.95.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $15.49. The company had revenue of $9.34 billion during 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 firm's revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Equities research analysts anticipate that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. 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 presently 5.83%.

Insider Activity at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the company's 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 directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Victor Abate sold 4,819 shares of the firm's stock in a transaction 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 transaction, the chief executive officer directly owned 1,835 shares of the company's stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate 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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