Nalls Sherbakoff Group LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV – Free Report) during the 4th quarter, Holdings Channel.com reports. The firm bought 1,381 shares of the company’s stock, valued at approximately $903,000.
Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of GE Vernova by 29.4% in 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 during the last quarter. Schnieders Capital Management LLC. increased its holdings in shares of GE Vernova by 1.7% during the 2nd 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 during the last quarter. Jump Financial LLC acquired a new position in shares of GE Vernova during the 2nd quarter valued at about $258,000. Ossiam bought a new position in shares of GE Vernova in the 2nd quarter valued at approximately $42,000. Finally, Nebula Research & Development LLC raised its stake in shares of GE Vernova by 23.9% in 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 in the last quarter.
Analysts Set New Price Targets
GEV has been the subject of several analyst reports. Robert W. Baird boosted their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Guggenheim increased their price target on GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Citigroup boosted their price objective on shares of GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Finally, BNP Paribas Exane downgraded 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 report on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $1,089.88.
GE Vernova Price Performance
Shares of NYSE:GEV opened at $1,111.65 on Friday. The business has a 50 day moving average price of $1,022.78 and a 200 day moving average price of $847.85. GE Vernova Inc. has a twelve month low of $479.04 and a twelve month high of $1,181.95. The company has a market cap of $298.72 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 4.11 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 (NYSE:GEV – Get Free Report) last released its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. The firm had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company’s revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 EPS. Research analysts predict that GE Vernova Inc. will post 14.99 earnings per share for the current year.
GE Vernova Dividend Announcement
The business also recently disclosed 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. 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 dividend payout ratio (DPR) is presently 5.83%.
Insiders Place Their Bets
In other GE Vernova news, 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 sale, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This represents a 39.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This 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.
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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