NWF Advisory Services Inc. raised its stake in GE Vernova Inc. (NYSE:GEV – Free Report) by 315.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,216 shares of the company’s stock after purchasing an additional 1,683 shares during the period. NWF Advisory Services Inc.’s holdings in GE Vernova were worth $1,449,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of Hawaii purchased a new stake in shares of GE Vernova during the 4th quarter worth approximately $2,862,000. Caitong International Asset Management Co. Ltd grew its position in shares of GE Vernova by 269.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 603 shares of the company’s stock valued at $394,000 after buying an additional 440 shares during the last quarter. Sankala Group LLC acquired a new stake in GE Vernova during the 4th quarter worth $152,000. Clearwave Capital LLC acquired a new stake in shares of GE Vernova during the fourth quarter worth about $342,000. Finally, NCM Capital Management LLC increased its position in GE Vernova by 316.0% during the fourth quarter. NCM Capital Management LLC now owns 2,267 shares of the company’s stock worth $1,482,000 after buying an additional 1,722 shares during the period.
GE Vernova Price Performance
Shares of GEV opened at $1,111.65 on Friday. The firm has a market capitalization of $298.72 billion, a PE ratio of 32.38, a P/E/G ratio of 4.11 and a beta of 1.23. The stock’s 50 day moving average is $1,022.78 and its two-hundred day moving average is $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 current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19.
GE Vernova Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders 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 yield of 0.2%. GE Vernova’s dividend payout ratio is presently 5.83%.
Insiders Place Their Bets
In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This represents a 72.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
GEV has been the subject of several analyst reports. BNP Paribas Exane downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective for the company. in a research note on Monday, April 27th. Wells Fargo & Company boosted their target price on GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Sanford C. Bernstein started coverage on GE Vernova in a research note on Tuesday. They set an “outperform” rating and a $1,206.00 price target for the company. Citigroup increased their price target on GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Finally, BMO Capital Markets lifted their price objective on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,089.88.
View Our Latest Stock Report on GE Vernova
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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