Sovran Advisors LLC boosted its position in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 35.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,971 shares of the company’s stock after buying an additional 772 shares during the quarter. Sovran Advisors LLC’s holdings in GE Vernova were worth $2,593,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Trust acquired a new position in shares of GE Vernova in the first quarter worth about $295,000. Sachetta LLC grew its position in shares of GE Vernova by 103.9% during the 1st quarter. Sachetta LLC now owns 208 shares of the company’s stock valued at $182,000 after acquiring an additional 106 shares during the period. WealthShield Partners LLC grew its position in shares of GE Vernova by 693.0% during the 1st quarter. WealthShield Partners LLC now owns 4,782 shares of the company’s stock valued at $4,174,000 after acquiring an additional 4,179 shares during the period. Simplicity Wealth LLC increased its stake in shares of GE Vernova by 37.1% in the 1st quarter. Simplicity Wealth LLC now owns 1,350 shares of the company’s stock valued at $1,178,000 after purchasing an additional 365 shares in the last quarter. Finally, Candriam S.C.A. increased its stake in shares of GE Vernova by 56.6% in the 1st quarter. Candriam S.C.A. now owns 130,990 shares of the company’s stock valued at $114,341,000 after purchasing an additional 47,346 shares in the last quarter.
Analyst Upgrades and Downgrades
Several analysts have commented on GEV shares. Wall Street Zen raised GE Vernova from a “hold” rating to a “buy” rating in a report on Sunday. Morgan Stanley upped their target price on GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. Wells Fargo & Company increased their target price on GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Barclays lifted their price target on shares of GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Finally, Citigroup boosted their price target on shares of GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,089.88.
Insider Buying and Selling at GE Vernova
In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. The trade was a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by corporate insiders.
GE Vernova Price Performance
GEV stock traded up $15.38 during trading on Friday, hitting $1,090.64. The stock had a trading volume of 1,737,069 shares, compared to its average volume of 2,887,361. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94. The company’s 50-day moving average price is $1,040.14 and its two-hundred day moving average price is $895.32. 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 stock has a market capitalization of $293.08 billion, a P/E ratio of 31.77, a PEG ratio of 4.03 and a beta of 1.09.
GE Vernova (NYSE:GEV – Get Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating 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 return on equity of 43.97% and a net margin of 23.81%.The business’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 earnings per share. As a group, research analysts predict that GE Vernova Inc. will post 15.06 EPS for the current fiscal year.
GE Vernova Announces Dividend
The company 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 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s dividend payout ratio is currently 5.83%.
About GE Vernova
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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