Ignite Planners LLC grew its position in GE Vernova Inc. (NYSE:GEV – Free Report) by 67.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,582 shares of the company’s stock after buying an additional 635 shares during the quarter. Ignite Planners LLC’s holdings in GE Vernova were worth $1,034,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of GEV. Jackson Grant Investment Advisers Inc. grew its stake in shares of GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after buying an additional 31 shares in the last quarter. Wealth Watch Advisors INC acquired a new stake in shares of GE Vernova in the third quarter valued at $25,000. Torren Management LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at $26,000. ORG Wealth Partners LLC grew its stake in shares of 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 buying an additional 29 shares in the last quarter. Finally, Navalign LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at $27,000.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on GEV shares. Guggenheim lifted their price objective on GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Mizuho set a $714.00 target price on GE Vernova in a research note on Tuesday, February 3rd. Robert W. Baird boosted their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. The Goldman Sachs Group reissued a “buy” rating and set a $1,328.00 target price on shares of GE Vernova in a research note on Friday, April 24th. Finally, Wells Fargo & Company boosted their target price on GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $1,090.76.
Insider Activity
In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was 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. This represents a 39.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.21% of the company’s stock.
GE Vernova Trading Down 0.4%
NYSE:GEV opened at $1,039.71 on Friday. The stock has a 50-day simple moving average of $978.06 and a 200-day simple moving average of $790.29. The stock has a market cap of $279.39 billion, a P/E ratio of 30.29, a P/E/G ratio of 3.91 and a beta of 1.51. GE Vernova Inc. has a 1 year low of $458.65 and a 1 year high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89.
GE Vernova (NYSE:GEV – Get Free Report) last released its quarterly earnings data 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 return on equity of 43.97% and a net margin of 23.81%.The business’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 EPS. As a group, analysts anticipate that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.
GE Vernova Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s dividend payout ratio is currently 5.83%.
GE Vernova Company 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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