Cerity Partners LLC Acquires 8,401 Shares of GE Vernova Inc. $GEV

Cerity Partners LLC grew its position in GE Vernova Inc. (NYSE:GEVFree Report) by 9.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 95,149 shares of the company’s stock after buying an additional 8,401 shares during the period. Cerity Partners LLC’s holdings in GE Vernova were worth $62,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE grew its position in shares of GE Vernova by 2.2% in the 3rd quarter. US Bancorp DE now owns 100,542 shares of the company’s stock valued at $61,824,000 after acquiring an additional 2,163 shares during the period. Vanguard Group Inc. lifted its stake 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 worth $15,259,028,000 after buying an additional 150,892 shares during the last quarter. Varenne Capital Partners acquired a new stake in shares of GE Vernova during the 3rd quarter worth about $4,872,000. Merit Financial Group LLC lifted its stake in shares of GE Vernova by 17.4% during the 4th quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock worth $9,856,000 after buying an additional 2,230 shares during the last quarter. Finally, Stevens Capital Management LP lifted its stake in shares of GE Vernova by 56.0% during the 3rd quarter. Stevens Capital Management LP now owns 3,640 shares of the company’s stock worth $2,238,000 after buying an additional 1,307 shares during the last quarter.

More GE Vernova News

Here are the key news stories impacting GE Vernova this week:

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GEV. Zacks Research cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Erste Group Bank upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Tuesday, March 24th. TD Cowen raised their target price on shares of GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. The Goldman Sachs Group restated a “buy” rating and set a $1,328.00 target price on shares of GE Vernova in a research note on Friday, April 24th. Finally, Susquehanna set a $1,300.00 target price on shares of GE Vernova 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. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $1,090.76.

Read Our Latest Research Report on GE Vernova

GE Vernova Price Performance

Shares of GE Vernova stock opened at $919.59 on Wednesday. The company has a 50-day simple moving average of $1,006.31 and a two-hundred day simple moving average of $826.35. The stock has a market capitalization of $247.11 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 3.46 and a beta of 1.23. 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 twelve month low of $458.65 and a twelve month high of $1,181.95.

GE Vernova (NYSE:GEVGet Free Report) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating the consensus estimate of $1.95 by $15.49. The company had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 EPS. Analysts forecast that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be given a $0.50 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s payout ratio is presently 5.83%.

Insider Activity at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were 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 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 SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by insiders.

GE Vernova Company Profile

(Free Report)

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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Institutional Ownership by Quarter for GE Vernova (NYSE:GEV)

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