State of Wisconsin Investment Board Sells 10,279 Shares of GE Vernova Inc. $GEV

State of Wisconsin Investment Board decreased its position in shares of GE Vernova Inc. (NYSE:GEVFree Report) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 147,142 shares of the company’s stock after selling 10,279 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.05% of GE Vernova worth $96,168,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Torren Management LLC bought a new position in shares of GE Vernova during the 4th quarter worth $26,000. Cornerstone Financial Management LLC bought a new position in shares of GE Vernova during the 4th quarter worth $25,000. Jackson Grant Investment Advisers Inc. grew its position in shares of GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after buying an additional 31 shares in the last quarter. Wealth Watch Advisors INC bought a new position in shares of GE Vernova during the 3rd quarter worth $25,000. Finally, ORG Wealth Partners LLC lifted its position in shares of GE Vernova by 241.7% during 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 during the last quarter.

Insider Activity

In other news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was 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 in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

GEV has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. Robert W. Baird increased their price target on GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Citigroup increased their price target on GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Weiss Ratings upgraded GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Finally, TD Cowen increased their price target on GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,089.88.

View Our Latest Research Report on GE Vernova

GE Vernova Trading Up 0.4%

GE Vernova stock opened at $982.80 on Wednesday. The stock has a 50-day moving average of $1,012.17 and a two-hundred day moving average of $839.14. 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 Inc. has a one year low of $479.04 and a one year high of $1,181.95. The stock has a market cap of $264.10 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 3.63 and a beta of 1.23.

GE Vernova (NYSE:GEVGet Free Report) last announced 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. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period last year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, research analysts anticipate that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Key Stories Impacting GE Vernova

Here are the key news stories impacting GE Vernova this week:

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.

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

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