GE Vernova Inc. $GEV Holdings Raised by Castleark Management LLC

Castleark Management LLC grew its position in GE Vernova Inc. (NYSE:GEVFree Report) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,741 shares of the company’s stock after acquiring an additional 1,168 shares during the quarter. GE Vernova makes up approximately 0.9% of Castleark Management LLC’s holdings, making the stock its 25th largest position. Castleark Management LLC’s holdings in GE Vernova were worth $31,202,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Jackson Grant Investment Advisers Inc. boosted its position in GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the period. Wealth Watch Advisors INC acquired a new position in GE Vernova during the 3rd quarter worth $25,000. Torren Management LLC acquired a new position in GE Vernova during the 4th quarter worth $26,000. ORG Wealth Partners LLC boosted its position in GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after acquiring an additional 29 shares during the period. Finally, Navalign LLC acquired a new position in GE Vernova during the 4th quarter worth $27,000.

Insider Activity

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction that occurred on 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 sale, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Victor Abate sold 4,819 shares of the company’s 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 completion of the transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

GE Vernova Stock Up 3.7%

NYSE:GEV opened at $940.14 on Friday. The firm has a market capitalization of $252.63 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 3.36 and a beta of 1.23. GE Vernova Inc. has a 1-year low of $474.21 and a 1-year high of $1,181.95. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The business’s fifty day moving average price is $1,008.85 and its 200 day moving average price is $831.73.

GE Vernova (NYSE:GEVGet Free Report) last posted 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. The firm had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.GE Vernova’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 earnings per share. On average, sell-side analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is 5.83%.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of analyst reports. Susquehanna set a $1,300.00 price target on GE Vernova in a research report on Thursday, April 23rd. Oppenheimer set a $1,303.00 price target on GE Vernova in a research report on Thursday, April 23rd. Jefferies Financial Group reduced their price target on GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating for the company in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on GE Vernova from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Finally, Erste Group Bank upgraded GE Vernova to a “strong-buy” rating in a research report on Tuesday, March 24th. 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. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $1,085.16.

Get Our Latest Analysis on GE Vernova

GE Vernova Profile

(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.

Further Reading

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Institutional Ownership by Quarter for GE Vernova (NYSE:GEV)

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