SageGuard Financial Group LLC Increases Stock Holdings in GE Vernova Inc. $GEV

Key Points

• SageGuard Financial Group LLC boosted its GE Vernova stake by 75.4% in the first quarter, bringing its holdings to 4,454 shares worth about $3.89 million.
• GE Vernova reported a much better-than-expected quarter, posting 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 broadly positive with a consensus rating of Moderate Buy and an average price target of $1,089.88.

SageGuard Financial Group LLC increased its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 75.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,454 shares of the company's stock after purchasing an additional 1,914 shares during the quarter. SageGuard Financial Group LLC's holdings in GE Vernova were worth $3,888,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GEV. Auto Owners Insurance Co lifted its holdings in shares of GE Vernova by 110,973.4% in the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company's stock worth $2,278,224,000 after acquiring an additional 34,826,773 shares during the last quarter. Vanguard Group Inc. grew its holdings in GE Vernova by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company's stock valued at $16,354,691,000 after purchasing an additional 208,162 shares during the last quarter. State Street Corp grew its holdings in GE Vernova by 2.1% during the 4th quarter. State Street Corp now owns 11,469,670 shares of the company's stock valued at $7,496,232,000 after purchasing an additional 231,392 shares during the last quarter. Geode Capital Management LLC raised its position in GE Vernova by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company's stock worth $4,074,039,000 after purchasing an additional 68,894 shares during the period. Finally, Morgan Stanley raised its position in GE Vernova by 12.8% in the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company's stock worth $3,957,024,000 after purchasing an additional 685,466 shares during the period.

GE Vernova Price Performance

GE Vernova stock opened at $1,045.74 on Monday. The stock has a market cap of $281.01 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 3.87 and a beta of 1.24. 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 $482.20 and a 1 year high of $1,181.95. The firm has a 50-day moving average of $1,031.16 and a two-hundred day moving average of $865.68.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period last year, the company posted $0.91 earnings per share. The company's quarterly revenue was up 17.0% compared to the same quarter last year. On average, research analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Insider Buying and Selling at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% 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.

Analysts Set New Price Targets

Several analysts have issued reports on GEV shares. The Goldman Sachs Group reissued a "buy" rating and issued a $1,328.00 price objective on shares of GE Vernova in a research note on Friday, April 24th. Guggenheim increased their price target on GE Vernova from $910.00 to $1,300.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Susquehanna set a $1,300.00 price target on GE Vernova in a research note on Thursday, April 23rd. Oppenheimer set a $1,303.00 price objective on GE Vernova in a report on Thursday, April 23rd. Finally, BMO Capital Markets boosted their price objective on GE Vernova from $1,110.00 to $1,250.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and an average target price of $1,089.88.

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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