GE Vernova Inc. (NYSE:GEV – Get Free Report) CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova 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 sale, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
GE Vernova Price Performance
Shares of GE Vernova stock traded down $35.62 during trading on Monday, hitting $1,013.61. 3,109,429 shares of the company’s stock traded hands, compared to its average volume of 2,652,021. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The firm’s fifty day moving average price is $957.76 and its 200 day moving average price is $775.95. GE Vernova Inc. has a twelve month low of $421.64 and a twelve month high of $1,181.95. The company has a market cap of $272.38 billion, a PE ratio of 55.60, a PEG ratio of 3.93 and a beta of 1.51.
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 (EPS) for the quarter, beating the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period last year, the firm posted $0.91 EPS. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. Analysts forecast that GE Vernova Inc. will post 14.84 earnings per share for the current year.
GE Vernova Dividend Announcement
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on GEV shares. China Renaissance raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday, January 29th. BMO Capital Markets lifted 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 report on Thursday, April 23rd. Morgan Stanley lifted 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. Jefferies Financial Group lifted their price target on shares of GE Vernova from $965.00 to $1,350.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, BNP Paribas Exane downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target for the company. in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $1,090.76.
Check Out Our Latest Stock Report on GEV
Hedge Funds Weigh In On GE Vernova
Institutional investors have recently modified their holdings of the stock. Manning & Napier Advisors LLC raised its stake in shares of GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after acquiring an additional 13 shares during the last quarter. Torren Management LLC bought a new stake in shares of GE Vernova during the fourth quarter worth approximately $26,000. Cornerstone Financial Management LLC bought a new stake in shares of GE Vernova during the fourth quarter worth approximately $25,000. Jackson Grant Investment Advisers Inc. raised its stake in shares of GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the last quarter. Finally, Wealth Watch Advisors INC bought a new stake in shares of GE Vernova during the third quarter worth approximately $25,000.
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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