Sharpepoint LLC Buys Shares of 8,175 GE Vernova Inc. $GEV

Key Points

• Sharpepoint LLC disclosed a new fourth-quarter stake in GE Vernova, buying 8,175 shares valued at about $5.34 million. The position now represents roughly 3.2% of Sharpepoint’s portfolio.
• Several other institutional investors also adjusted their holdings, with some adding to their positions and others opening new stakes, signaling continued hedge fund interest in GE Vernova.
• Wall Street sentiment remains broadly positive: multiple analysts raised price targets, and GE Vernova recently posted better-than-expected earnings and revenue growth, while also announcing a quarterly dividend of $0.50 per share.

Sharpepoint LLC bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,175 shares of the company's stock, valued at approximately $5,343,000. GE Vernova comprises approximately 3.2% of Sharpepoint LLC's portfolio, making the stock its 9th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Townsquare Capital LLC boosted its stake in GE Vernova by 20.6% in the fourth quarter. Townsquare Capital LLC now owns 2,753 shares of the company's stock valued at $1,799,000 after acquiring an additional 471 shares during the last quarter. Wellspring Financial Advisors LLC purchased a new position in GE Vernova in the fourth quarter valued at about $443,000. Myriad Asset Management Advisors LLC purchased a new position in GE Vernova in the fourth quarter valued at about $1,982,000. Zions Bancorporation National Association UT boosted its stake in GE Vernova by 41.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 1,916 shares of the company's stock valued at $1,252,000 after acquiring an additional 561 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its stake in GE Vernova by 15.3% in the fourth quarter. Illinois Municipal Retirement Fund now owns 13,126 shares of the company's stock valued at $8,579,000 after acquiring an additional 1,745 shares during the last quarter.

Trending Headlines about GE Vernova

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: GE Vernova was highlighted as a potential beneficiary of the U.S. Department of Energy setting a timeline for fusion energy development, which could lift sentiment around the company’s long-term role in advanced power generation and grid infrastructure. Article Title
• Neutral Sentiment: Recent coverage also noted that GEV had already been trading lower in the previous session, suggesting some near-term momentum loss before today’s move. Article Title
• Neutral Sentiment: Broader market headlines about futures moving on geopolitical tensions and oil volatility may also be contributing to a risk-off tone, but they are not specific to GE Vernova’s fundamentals. Article Title

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GEV. Citigroup boosted their target price on shares of GE Vernova from $779.00 to $1,110.00 and gave the company a "neutral" rating in a research note on Monday, April 13th. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Erste Group Bank upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Tuesday, March 24th. Oppenheimer set a $1,303.00 target price on shares of GE Vernova in a research note on Thursday, April 23rd. Finally, Jefferies Financial Group boosted their target price on shares of GE Vernova from $965.00 to $1,350.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,090.76.

Insider Buying and Selling

In related news, CEO Victor Abate sold 4,819 shares of the company's stock in a transaction that occurred 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 sale, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company'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 transaction of $2,470,856.97. Following the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company's stock.

GE Vernova Stock Performance

GE Vernova stock opened at $866.63 on Thursday. The firm's 50 day simple moving average is $1,007.32 and its 200 day simple moving average is $828.51. 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 firm has a market capitalization of $232.88 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 3.41 and a beta of 1.23. GE Vernova Inc. has a 1-year low of $464.00 and a 1-year high of $1,181.95.

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

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors 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 dividend payout ratio is 5.83%.

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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