WESPAC Advisors SoCal LLC lowered its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 14.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,302 shares of the company's stock after selling 922 shares during the period. WESPAC Advisors SoCal LLC's holdings in GE Vernova were worth $4,628,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. World Investment Advisors grew its stake in shares of GE Vernova by 19.9% during the 4th quarter. World Investment Advisors now owns 13,497 shares of the company's stock worth $8,821,000 after acquiring an additional 2,241 shares during the period. US Bancorp DE raised its stake in GE Vernova by 2.2% in the 3rd quarter. US Bancorp DE now owns 100,542 shares of the company's stock valued at $61,824,000 after acquiring an additional 2,163 shares during the period. Varenne Capital Partners bought a new stake in GE Vernova in the 3rd quarter valued at about $4,872,000. Merit Financial Group LLC raised its stake in GE Vernova by 17.4% in the 4th quarter. Merit Financial Group LLC now owns 15,080 shares of the company's stock valued at $9,856,000 after acquiring an additional 2,230 shares during the period. Finally, Stevens Capital Management LP lifted its holdings in GE Vernova by 56.0% during the third quarter. Stevens Capital Management LP now owns 3,640 shares of the company's stock valued at $2,238,000 after purchasing an additional 1,307 shares during the last quarter.
GE Vernova Stock Performance
Shares of GEV opened at $1,111.65 on Friday. GE Vernova Inc. has a 52-week low of $479.04 and a 52-week high of $1,181.95. The stock's 50-day simple moving average is $1,022.78 and its 200 day simple moving average is $847.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The stock has a market capitalization of $298.72 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 4.11 and a beta of 1.23.
GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm had revenue of $9.34 billion for the quarter, compared to analysts' expectations of $9.19 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The company's revenue was up 17.0% on a year-over-year basis. Research analysts forecast that GE Vernova Inc. will post 14.99 EPS for the current fiscal 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 dividend of $0.50 per share. 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 payout ratio is currently 5.83%.
Insider Buying and Selling
In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer directly owned 3,549 shares of the company's stock, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on GEV. Wells Fargo & Company increased their target price on shares of GE Vernova from $831.00 to $896.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 31st. Susquehanna set a $1,300.00 price target on shares of GE Vernova in a research report on Thursday, April 23rd. BMO Capital Markets upped their price target 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. Royal Bank Of Canada raised their price objective on shares of GE Vernova from $996.00 to $1,195.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Finally, Zacks Research lowered shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 28th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,089.88.
Read Our Latest Stock Report on GE Vernova
About GE Vernova
(
Free Report)
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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