Sanders Morris Harris LLC reduced its position in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 83.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 324 shares of the company’s stock after selling 1,668 shares during the quarter. Sanders Morris Harris LLC’s holdings in GE Vernova were worth $381,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Fermata Advisors LLC increased its stake in shares of GE Vernova by 21.1% in the 2nd quarter. Fermata Advisors LLC now owns 476 shares of the company’s stock valued at $559,000 after purchasing an additional 83 shares in the last quarter. 180 Wealth Advisors LLC boosted its position in GE Vernova by 1.4% during the second quarter. 180 Wealth Advisors LLC now owns 3,555 shares of the company’s stock worth $4,177,000 after purchasing an additional 49 shares in the last quarter. Foster Group Inc. boosted its position in GE Vernova by 8.0% during the second quarter. Foster Group Inc. now owns 582 shares of the company’s stock worth $684,000 after purchasing an additional 43 shares in the last quarter. Mirador Capital Partners LP grew its holdings in GE Vernova by 2.5% in the second quarter. Mirador Capital Partners LP now owns 408 shares of the company’s stock valued at $479,000 after purchasing an additional 10 shares during the period. Finally, Willner & Heller LLC grew its holdings in GE Vernova by 20.8% in the second quarter. Willner & Heller LLC now owns 343 shares of the company’s stock valued at $403,000 after purchasing an additional 59 shares during the period.
Insider Buying and Selling at GE Vernova
In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction dated 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 sale, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This trade represents a 72.42% 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.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on GEV
GE Vernova Price Performance
Shares of GE Vernova stock opened at $1,019.48 on Thursday. The business has a 50 day simple moving average of $1,026.14 and a two-hundred day simple moving average of $942.64. GE Vernova Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94. The stock has a market capitalization of $271.52 billion, a P/E ratio of 29.18, a PEG ratio of 3.63 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62.
GE Vernova (NYSE:GEV – Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business’s revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.86 EPS. As a group, analysts predict that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.
GE Vernova Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were issued a $0.50 dividend. The ex-dividend date was 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 presently 5.72%.
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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