Gerber Kawasaki Wealth & Investment Management raised its stake in GE Vernova Inc. (NYSE:GEV – Free Report) by 23.8% in the 4th quarter, HoldingsChannel reports. The firm owned 19,159 shares of the company’s stock after acquiring an additional 3,677 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in GE Vernova were worth $12,533,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of GEV. Brighton Jones LLC raised its position in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after purchasing an additional 753 shares during the period. Schnieders Capital Management LLC. increased its stake in GE Vernova by 1.7% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after purchasing an additional 26 shares in the last quarter. Jump Financial LLC bought a new stake in GE Vernova during the 2nd quarter valued at $258,000. Ossiam bought a new stake in GE Vernova during the 2nd quarter valued at $42,000. Finally, Nebula Research & Development LLC increased its position in shares of GE Vernova by 23.9% during the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock worth $886,000 after acquiring an additional 323 shares in the last quarter.
Insider Transactions at GE Vernova
In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. The trade was a 72.42% 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.
GE Vernova Trading Up 3.7%
GE Vernova (NYSE:GEV – Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the firm posted $0.91 EPS. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. Research analysts anticipate that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.
GE Vernova Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s dividend payout ratio is presently 5.83%.
Analyst Upgrades and Downgrades
Several research firms have recently commented on GEV. Weiss Ratings raised shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Jefferies Financial Group decreased their target price on shares of GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating for the company in a research report on Thursday. Susquehanna set a $1,300.00 target price on shares of GE Vernova in a research report on Thursday, April 23rd. JPMorgan Chase & Co. boosted their target price on shares of 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 raised shares of GE Vernova to a “strong-buy” rating in a research report on Tuesday, March 24th. Two research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,085.16.
View Our Latest Stock Report on GE Vernova
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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