Y.D. More Investments Ltd Cuts Stake in GE Vernova Inc. $GEV

Key Points

• Y.D. More Investments Ltd reduced its GE Vernova stake by 19.2% in the first quarter, selling 1,272 shares and ending with 5,337 shares valued at about $4.66 million.
• GE Vernova reported strong first-quarter results, with EPS of $17.44 versus $1.95 expected and revenue of $9.34 billion, up 17% year over year. Analysts still see continued strength, with a consensus target price of $1,089.88 and a Moderate Buy rating.
• The company announced a quarterly dividend of $0.50 per share, payable July 14, while recent insider sales included large stock disposals by CEO Victor Abate and CAO Matthew Joseph Potvin.

Y.D. More Investments Ltd cut its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 19.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,337 shares of the company's stock after selling 1,272 shares during the period. Y.D. More Investments Ltd's holdings in GE Vernova were worth $4,659,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Cornerstone Financial Management LLC purchased a new stake in shares of GE Vernova during the 4th quarter valued at $25,000. Wealth Watch Advisors INC purchased a new position in shares of GE Vernova in the 3rd quarter worth $25,000. Torren Management LLC acquired a new position in GE Vernova in the fourth quarter valued at $26,000. Manning & Napier Advisors LLC boosted its holdings in GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock valued at $26,000 after acquiring an additional 13 shares during the last quarter. Finally, ORG Wealth Partners LLC boosted its holdings in GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock valued at $27,000 after acquiring an additional 29 shares during the last quarter.

GE Vernova Trading Down 0.1%

Shares of GEV opened at $1,090.64 on Monday. The stock's 50-day moving average is $1,040.14 and its two-hundred day moving average is $896.97. The stock has a market cap of $293.08 billion, a PE ratio of 31.77, a P/E/G ratio of 4.03 and a beta of 1.09. GE Vernova Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94. 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 (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping the consensus estimate of $1.95 by $15.49. The company had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company's revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 earnings per share. Equities analysts forecast that GE Vernova Inc. will post 15.06 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders 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 dividend payout ratio is currently 5.83%.

Wall Street Analyst Weigh In

GEV has been the subject of several research analyst reports. Sanford C. Bernstein began coverage on GE Vernova in a research note on Tuesday, June 16th. They set an "outperform" rating and a $1,206.00 price target for the company. Barclays lifted their price objective on GE Vernova from $993.00 to $1,250.00 and gave the company an "overweight" rating in a research note on Thursday, April 23rd. TD Cowen boosted their target price on GE Vernova from $780.00 to $1,220.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Erste Group Bank raised shares of GE Vernova to a "strong-buy" rating in a research report on Tuesday, March 24th. Finally, Morgan Stanley raised their price target on shares of GE Vernova from $817.00 to $960.00 and gave the company an "overweight" rating in a report on Monday, March 23rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,089.88.

Insider Activity at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the business's stock in a transaction 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 transaction, the chief executive officer directly owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company'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 owned 3,549 shares of the company's stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by company insiders.

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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