WealthShield Partners LLC Buys 4,179 Shares of GE Vernova Inc. $GEV

Key Points

• WealthShield Partners LLC increased its GE Vernova stake by 693% in the first quarter, buying 4,179 additional shares and bringing its total holding to 4,782 shares worth about $4.17 million.
• GE Vernova insiders have been selling shares recently, including CEO Victor Abate and CAO Matthew Joseph Potvin, who both cut their positions significantly.
• Analysts remain broadly positive on the stock, with a consensus rating of Moderate Buy and an average price target of $1,089.88; GE Vernova also reported earnings and revenue that beat expectations in its latest quarter.

WealthShield Partners LLC boosted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 693.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,782 shares of the company's stock after buying an additional 4,179 shares during the period. WealthShield Partners LLC's holdings in GE Vernova were worth $4,174,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Cornerstone Financial Management LLC purchased a new stake in GE Vernova in the fourth quarter worth $25,000. Wealth Watch Advisors INC purchased a new position in GE Vernova during the third quarter valued at $25,000. Torren Management LLC bought a new stake in shares of GE Vernova during the 4th quarter valued at $26,000. Manning & Napier Advisors LLC grew its position in shares of GE Vernova by 68.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock worth $26,000 after buying an additional 13 shares during the period. Finally, ORG Wealth Partners LLC grew its position in shares of GE Vernova by 241.7% in the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock worth $27,000 after buying an additional 29 shares during the period.

Insider Activity at GE Vernova

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 stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the transaction, the chief executive officer directly 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 can be accessed through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm'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 transaction, the chief accounting officer owned 3,549 shares of the company's stock, valued at $3,758,710.41. This represents a 39.66% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GEV. Robert W. Baird lifted their price target on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an "outperform" rating in a research report on Thursday, April 23rd. JPMorgan Chase & Co. raised 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. Argus set a $1,300.00 target price on shares of GE Vernova in a report on Monday, April 27th. Barclays boosted their price target on GE Vernova from $993.00 to $1,250.00 and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $1,328.00 price target on shares of GE Vernova in a research note on Friday, April 24th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,089.88.

GE Vernova Stock Up 1.4%

GEV stock traded up $15.38 during trading on Friday, hitting $1,090.64. 1,737,069 shares of the stock traded hands, compared to its average volume of 2,887,361. The stock has a market cap of $293.08 billion, a price-to-earnings ratio of 31.77, a price-to-earnings-growth ratio of 3.97 and a beta of 1.09. 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 $530.16 and a 1 year high of $1,195.94. The firm's 50 day moving average is $1,040.14 and its two-hundred day moving average is $895.32.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $15.49. The business had revenue of $9.34 billion during the quarter, compared to analysts' expectations of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share. On average, sell-side analysts anticipate that GE Vernova Inc. will post 15.06 EPS 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 issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova's payout ratio is presently 5.83%.

GE Vernova 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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