Y.D. More Investments Ltd trimmed its holdings in GE Vernova Inc. (NYSE:GEV – Free Report) by 19.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,337 shares of the company’s stock after selling 1,272 shares during the period. Y.D. More Investments Ltd’s holdings in GE Vernova were worth $4,659,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in GEV. Brighton Jones LLC grew its position in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after buying an additional 753 shares in the last quarter. Schnieders Capital Management LLC. raised its holdings in GE Vernova by 1.7% in the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after acquiring an additional 26 shares in the last quarter. Jump Financial LLC acquired a new stake in GE Vernova in the second quarter valued at $258,000. Ossiam bought a new position in GE Vernova during the 2nd quarter valued at $42,000. Finally, Nebula Research & Development LLC boosted its stake in GE Vernova by 23.9% during the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock valued at $886,000 after acquiring an additional 323 shares during the last quarter.
Insider Buying and Selling
In other news, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred 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. This represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’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. This trade represents a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.
GE Vernova Stock Down 0.1%
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 analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period last year, the firm posted $0.91 EPS. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. Research analysts predict that GE Vernova Inc. will post 15.06 EPS for the current year.
GE Vernova Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend 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 currently 5.83%.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on GEV. Morgan Stanley boosted their target price on shares of GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a research report on Monday, March 23rd. Wall Street Zen raised shares of GE Vernova from a “hold” rating to a “buy” rating in a research report on Sunday. BMO Capital Markets lifted their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Weiss Ratings raised GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Finally, Argus set a $1,300.00 price objective on GE Vernova in a research note on Monday, April 27th. Three 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,089.88.
Read Our Latest Stock Report 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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