Teamwork Financial Advisors LLC Sells 2,890 Shares of GE Vernova Inc. $GEV

Key Points

• Teamwork Financial Advisors reduced its GE Vernova stake by 15.4% in the second quarter, selling 2,890 shares and retaining 15,885 shares valued at approximately $18.7 million.
• Wall Street maintains a generally positive outlook, with GE Vernova receiving a consensus “Moderate Buy” rating and an average price target of $1,133.15, despite one recent downgrade to “Hold.”
• GE Vernova’s quarterly revenue rose 21.9% year over year to $11.10 billion, beating estimates, although earnings of $2.47 per share fell short of the $3.17 consensus forecast; shares opened at $990.15, down 1.0%.

Teamwork Financial Advisors LLC trimmed its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 15.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,885 shares of the company's stock after selling 2,890 shares during the quarter. GE Vernova makes up about 1.7% of Teamwork Financial Advisors LLC's portfolio, making the stock its 17th biggest position. Teamwork Financial Advisors LLC's holdings in GE Vernova were worth $18,663,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sonoma Allocations LLC boosted its holdings in GE Vernova by 30.5% during the 2nd quarter. Sonoma Allocations LLC now owns 483 shares of the company's stock valued at $560,000 after acquiring an additional 113 shares during the period. TrueWealth Advisors LLC grew its position in GE Vernova by 2.7% in the 2nd quarter. TrueWealth Advisors LLC now owns 1,099 shares of the company's stock valued at $1,291,000 after acquiring an additional 29 shares during the last quarter. LifeGoal Investments LLC increased its stake in GE Vernova by 8.0% in the second quarter. LifeGoal Investments LLC now owns 500 shares of the company's stock worth $587,000 after purchasing an additional 37 shares during the period. FNY Investment Advisers LLC increased its stake in GE Vernova by 237.8% in the second quarter. FNY Investment Advisers LLC now owns 750 shares of the company's stock worth $881,000 after purchasing an additional 528 shares during the period. Finally, Cooper Financial Group lifted its position in shares of GE Vernova by 5.5% during the second quarter. Cooper Financial Group now owns 1,391 shares of the company's stock worth $1,634,000 after purchasing an additional 72 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GEV. Wall Street Zen lowered shares of GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a research note on Monday. Argus set a $1,300.00 price objective on shares of GE Vernova in a report on Monday, April 27th. Jefferies Financial Group reiterated a "buy" rating on shares of GE Vernova in a report on Monday, July 27th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $1,328.00 price objective on shares of GE Vernova in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,133.15.

Insider Activity

In other news, CEO Victor Abate sold 4,819 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the sale, the chief accounting officer owned 3,549 shares of the company's stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by corporate insiders.

GE Vernova Trading Down 1.0%

Shares of NYSE GEV opened at $990.15 on Friday. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94. The firm has a market cap of $263.71 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 3.57 and a beta of 1.21. The business has a fifty day simple moving average of $1,026.62 and a two-hundred day simple moving average of $945.18. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.GE Vernova's quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.86 EPS. Analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's dividend payout ratio is 5.72%.

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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