Kestra Advisory Services LLC increased its position in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 28.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,018 shares of the company’s stock after purchasing an additional 8,399 shares during the period. Kestra Advisory Services LLC’s holdings in GE Vernova were worth $33,186,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Torren Management LLC bought a new stake in shares of GE Vernova in the fourth quarter valued at about $26,000. Cornerstone Financial Management LLC bought a new position in GE Vernova during the fourth quarter worth about $25,000. Wealth Watch Advisors INC bought a new position in GE Vernova during the third quarter worth about $25,000. ORG Wealth Partners LLC raised its stake in GE Vernova by 241.7% in the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after purchasing an additional 29 shares in the last quarter. Finally, Navalign LLC acquired a new stake in GE Vernova in the 4th quarter worth about $27,000.
Insider Buying and Selling
In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction on 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 sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.
GE Vernova Price Performance
GE Vernova (NYSE:GEV – Get Free Report) last posted 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. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. GE Vernova’s revenue was up 17.0% on a year-over-year basis. Sell-side analysts forecast that GE Vernova Inc. will post 15.06 earnings per share for the current year.
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 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 is Tuesday, June 16th. GE Vernova’s dividend payout ratio (DPR) is presently 5.83%.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on GEV. TD Cowen increased their target price on shares of GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Oppenheimer set a $1,303.00 price target on shares of GE Vernova in a research report on Thursday, April 23rd. BNP Paribas Exane downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target for the company. in a research report on Monday, April 27th. Jefferies Financial Group cut their price target on GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating for the company in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $1,328.00 price target on shares of GE Vernova in a research report on Friday, April 24th. Three 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,089.88.
View Our Latest Analysis on GEV
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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