Waystone Advisors LLC bought a new position in GE Vernova Inc. (NYSE:GEV – Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 510 shares of the company’s stock, valued at approximately $333,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. J.W. Cole Advisors Inc. boosted its stake in shares of GE Vernova by 25.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock valued at $9,990,000 after purchasing an additional 3,278 shares in the last quarter. US Bancorp DE grew its holdings in shares of GE Vernova by 2.2% during the 3rd quarter. US Bancorp DE now owns 100,542 shares of the company’s stock valued at $61,824,000 after purchasing an additional 2,163 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of GE Vernova by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock valued at $15,259,028,000 after purchasing an additional 150,892 shares during the last quarter. Varenne Capital Partners purchased a new position in GE Vernova in the 3rd quarter worth $4,872,000. Finally, Stevens Capital Management LP raised its position in GE Vernova by 56.0% in the 3rd quarter. Stevens Capital Management LP now owns 3,640 shares of the company’s stock worth $2,238,000 after purchasing an additional 1,307 shares during the period.
Insider Activity
In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’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 transaction 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. This represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.21% of the company’s stock.
GE Vernova Price Performance
GE Vernova (NYSE:GEV – Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating the consensus estimate of $1.95 by $15.49. The firm had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 earnings per share. As a group, equities analysts expect that GE Vernova Inc. will post 14.84 EPS for the current year.
GE Vernova Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s payout ratio is 5.83%.
Analyst Upgrades and Downgrades
Several research firms have issued reports on GEV. Rothschild & Co Redburn upgraded shares of GE Vernova from a “sell” rating to a “buy” rating and upped their price target for the company from $560.00 to $1,100.00 in a research report on Monday, March 9th. JPMorgan Chase & Co. boosted their target price on GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Oppenheimer set a $1,303.00 target price on GE Vernova in a report on Thursday, April 23rd. Robert W. Baird raised their price target on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,090.76.
View Our Latest Analysis 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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