International Assets Investment Management LLC lifted its position in GE Vernova Inc. (NYSE:GEV – Free Report) by 14.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,547 shares of the company’s stock after buying an additional 698 shares during the quarter. International Assets Investment Management LLC’s holdings in GE Vernova were worth $4,964,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in GEV. Onyx Bridge Wealth Group LLC grew its position in shares of GE Vernova by 1.3% in the 1st quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock valued at $635,000 after acquiring an additional 9 shares during the period. Red Door Wealth Management LLC grew its holdings in GE Vernova by 0.6% during the first quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock worth $1,548,000 after purchasing an additional 10 shares during the period. Advance Capital Management Inc. grew its holdings in GE Vernova by 2.2% during the first quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock worth $402,000 after purchasing an additional 10 shares during the period. Bell Investment Advisors Inc increased its position in GE Vernova by 5.2% during the first quarter. Bell Investment Advisors Inc now owns 221 shares of the company’s stock worth $193,000 after buying an additional 11 shares during the last quarter. Finally, Sky Investment Group LLC increased its position in GE Vernova by 0.5% during the first quarter. Sky Investment Group LLC now owns 2,405 shares of the company’s stock worth $2,099,000 after buying an additional 12 shares during the last quarter.
Analyst Ratings Changes
GEV has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on GE Vernova from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. BNP Paribas Exane cut shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective for the company. in a research report on Monday, April 27th. Sanford C. Bernstein started coverage on shares of GE Vernova in a research note on Tuesday, June 16th. They set an “outperform” rating and a $1,206.00 target price for the company. Erste Group Bank upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Tuesday, March 24th. Finally, Zacks Research lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $1,089.88.
GE Vernova Price Performance
Shares of NYSE:GEV traded up $15.38 during trading on Friday, reaching $1,090.64. 1,737,069 shares of the company traded hands, compared to its average volume of 2,887,361. The company’s 50 day moving average is $1,040.14 and its two-hundred day moving average is $895.32. The firm has a market capitalization of $293.08 billion, a PE ratio of 31.77, a PEG ratio of 4.03 and a beta of 1.09. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a 52 week low of $530.16 and a 52 week high of $1,195.94.
GE Vernova (NYSE:GEV – Get Free Report) last posted its quarterly earnings results 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 net margin of 23.81% and a return on equity of 43.97%. The business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter last year, the business posted $0.91 EPS. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, sell-side analysts predict that GE Vernova Inc. will post 15.06 earnings per share for the current year.
GE Vernova Dividend Announcement
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%.
Insider Activity at GE Vernova
In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the 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 of the company’s stock, valued at $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.
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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