Cynosure Group LLC lifted its stake in GE Vernova Inc. (NYSE:GEV – Free Report) by 15.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,180 shares of the company’s stock after buying an additional 2,014 shares during the quarter. GE Vernova makes up about 0.5% of Cynosure Group LLC’s investment portfolio, making the stock its 21st largest position. Cynosure Group LLC’s holdings in GE Vernova were worth $9,921,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of GEV. Norges Bank purchased a new position in shares of GE Vernova in the fourth quarter worth $2,283,114,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of GE Vernova by 5,171.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after buying an additional 2,406,326 shares in the last quarter. Capital World Investors lifted its holdings in shares of GE Vernova by 1,907.5% in the third quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after buying an additional 2,048,792 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of GE Vernova by 170.0% in the third quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company’s stock worth $722,956,000 after buying an additional 740,339 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of GE Vernova by 12.8% in the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock worth $3,957,024,000 after buying an additional 685,466 shares in the last quarter.
GE Vernova Price Performance
Shares of GEV stock opened at $980.08 on Tuesday. GE Vernova Inc. has a 52-week low of $479.04 and a 52-week 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. The firm has a market capitalization of $263.37 billion, a P/E ratio of 28.55, a P/E/G ratio of 3.49 and a beta of 1.24. The stock has a 50 day moving average price of $1,010.48 and a 200 day moving average price of $836.38.
GE Vernova Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is presently 5.83%.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on GEV. Wells Fargo & Company boosted their price target on shares of GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. BMO Capital Markets boosted their price target on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Zacks Research cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Royal Bank Of Canada boosted their price target on shares of GE Vernova from $996.00 to $1,195.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Finally, Oppenheimer set a $1,303.00 price target on shares of GE Vernova in a research report on Thursday, April 23rd. Two equities 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,085.16.
Insider Transactions at GE Vernova
In other 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 transaction, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The transaction 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 transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.
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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