Tranquility Partners LLC Makes New Investment in GE Vernova Inc. $GEV

Tranquility Partners LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEVFree Report) during the first quarter, Holdings Channel.com reports. The firm purchased 508 shares of the company’s stock, valued at approximately $443,000.

Several other institutional investors and hedge funds have also made changes to their positions in GEV. Cornerstone Financial Management LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at $25,000. Wealth Watch Advisors INC acquired a new stake in GE Vernova during the 3rd quarter worth about $25,000. Torren Management LLC acquired a new stake in GE Vernova during the 4th quarter worth about $26,000. ORG Wealth Partners LLC grew its stake in GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after purchasing an additional 29 shares during the last quarter. Finally, Navalign LLC purchased a new stake in GE Vernova during the 4th quarter valued at about $27,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Sanford C. Bernstein initiated coverage on GE Vernova in a research note on Tuesday, June 16th. They issued an “outperform” rating and a $1,206.00 price objective for the company. TD Cowen upped their target price on GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Royal Bank Of Canada increased their price target on shares of GE Vernova from $996.00 to $1,195.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Morgan Stanley raised their price target on shares of GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a research report on Monday, March 23rd. Finally, Barclays boosted their target price on shares of GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,089.88.

Check Out Our Latest Stock Report on GEV

Insider Activity

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 transaction of $2,470,856.97. Following 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Key Headlines Impacting GE Vernova

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

GE Vernova Price Performance

NYSE:GEV opened at $1,036.75 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The company has a 50 day moving average price of $1,026.82 and a 200-day moving average price of $856.51. GE Vernova Inc. has a 1-year low of $482.20 and a 1-year high of $1,181.95. The firm has a market cap of $278.60 billion, a price-to-earnings ratio of 30.20, a price-to-earnings-growth ratio of 4.18 and a beta of 1.23.

GE Vernova (NYSE:GEVGet Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. The firm had revenue of $9.34 billion for 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 firm’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. Equities research analysts forecast that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is 5.83%.

About GE Vernova

(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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