Braun Stacey Associates Inc. decreased its stake in GE Vernova Inc. (NYSE:GEV – Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,661 shares of the company’s stock after selling 1,138 shares during the quarter. GE Vernova makes up about 1.1% of Braun Stacey Associates Inc.’s holdings, making the stock its 27th biggest position. Braun Stacey Associates Inc.’s holdings in GE Vernova were worth $32,874,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of GEV. Cornerstone Financial Management LLC acquired a new position in shares of GE Vernova in the fourth quarter worth $25,000. Wealth Watch Advisors INC acquired a new stake in GE Vernova during the third quarter valued at $25,000. Torren Management LLC acquired a new stake in GE Vernova during the fourth quarter valued at $26,000. 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 purchasing an additional 29 shares in the last quarter. Finally, Navalign LLC purchased a new position in GE Vernova in the fourth quarter valued at about $27,000.
GE Vernova Trading Down 3.7%
GE Vernova stock opened at $1,045.74 on Friday. GE Vernova Inc. has a one year low of $482.20 and a one year high of $1,181.95. The company’s fifty day moving average price is $1,031.16 and its two-hundred day moving average price is $863.97. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The company has a market capitalization of $281.01 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 3.87 and a beta of 1.23.
GE Vernova Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s dividend payout ratio (DPR) is presently 5.83%.
Insider Buying and Selling
In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s 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 value of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The transaction 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 stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following 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 position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several brokerages have weighed in on GEV. Weiss Ratings raised GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. TD Cowen lifted their price target on GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Sanford C. Bernstein started coverage on GE Vernova in a report on Tuesday, June 16th. They issued an “outperform” rating and a $1,206.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Finally, Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a research report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,089.88.
Check Out Our Latest Stock Analysis on GE Vernova
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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