Sit Investment Associates Inc. lowered its position in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 8.6% during the fourth quarter, HoldingsChannel reports. The fund owned 5,639 shares of the company’s stock after selling 531 shares during the quarter. Sit Investment Associates Inc.’s holdings in GE Vernova were worth $3,685,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Jackson Grant Investment Advisers Inc. raised its holdings in GE Vernova by 344.4% in the 3rd 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 during the last quarter. Cornerstone Financial Management LLC bought a new position in GE Vernova during the fourth quarter worth $25,000. Wealth Watch Advisors INC bought a new position in shares of GE Vernova in the 3rd quarter worth about $25,000. Torren Management LLC acquired a new stake in shares of GE Vernova during the 4th quarter worth approximately $26,000. Finally, ORG Wealth Partners LLC grew its stake in 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 acquiring an additional 29 shares during the period.
Analyst Upgrades and Downgrades
GEV has been the topic of a number of analyst reports. BMO Capital Markets upped their target price on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Robert W. Baird raised their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Royal Bank Of Canada raised 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 note on Thursday, April 23rd. Morgan Stanley boosted their price objective on GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. Finally, Rothschild & Co Redburn raised shares of GE Vernova from a “sell” rating to a “buy” rating and boosted their target price for the company from $560.00 to $1,100.00 in a report on Monday, March 9th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,089.88.
GE Vernova Trading Up 0.2%
Shares of GEV opened at $1,111.65 on Friday. The firm’s 50 day simple moving average is $1,022.78 and its 200 day simple moving average is $847.85. The company has a market capitalization of $298.72 billion, a P/E ratio of 32.38, a P/E/G ratio of 4.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. GE Vernova Inc. has a 1-year low of $479.04 and a 1-year high of $1,181.95.
GE Vernova (NYSE:GEV – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 23.81% and a return on equity of 43.97%. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. Sell-side analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.
GE Vernova Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.50 per share. 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 dividend payout ratio (DPR) is presently 5.83%.
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 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 directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction dated 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 transaction, the chief executive officer 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.
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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