Xcel Wealth Management LLC lessened its holdings in GE Vernova Inc. (NYSE:GEV – Free Report) by 10.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,291 shares of the company’s stock after selling 483 shares during the quarter. GE Vernova makes up 1.0% of Xcel Wealth Management LLC’s holdings, making the stock its 23rd largest holding. Xcel Wealth Management LLC’s holdings in GE Vernova were worth $3,746,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of GEV. Topsail Wealth Management LLC boosted its stake in shares of GE Vernova by 22.8% during the first quarter. Topsail Wealth Management LLC now owns 484 shares of the company’s stock valued at $422,000 after purchasing an additional 90 shares during the period. Northeast Investment Management increased its stake in GE Vernova by 22.1% in the 1st quarter. Northeast Investment Management now owns 11,922 shares of the company’s stock worth $10,407,000 after buying an additional 2,154 shares during the period. Penn Davis Mcfarland Inc. purchased a new position in GE Vernova in the 1st quarter worth about $209,000. GHP Investment Advisors Inc. lifted its holdings in GE Vernova by 5.1% during the 1st quarter. GHP Investment Advisors Inc. now owns 348 shares of the company’s stock valued at $303,000 after buying an additional 17 shares in the last quarter. Finally, AA Financial Advisors LLC lifted its holdings in GE Vernova by 11.3% during the 1st quarter. AA Financial Advisors LLC now owns 848 shares of the company’s stock valued at $740,000 after buying an additional 86 shares in the last quarter.
Analysts Set New Price Targets
GEV has been the topic of a number of research analyst reports. TD Cowen upped 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. Oppenheimer set a $1,303.00 price target on shares of GE Vernova in a research note on Thursday, April 23rd. Sanford C. Bernstein began coverage on GE Vernova in a report on Tuesday, June 16th. They issued an “outperform” rating and a $1,206.00 price target for the company. The Goldman Sachs Group reissued a “buy” rating and issued a $1,328.00 price objective on shares of GE Vernova in a research note on Friday, April 24th. Finally, Erste Group Bank upgraded GE Vernova to a “strong-buy” rating in a report on Tuesday, March 24th. Three investment 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’s stock. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $1,089.88.
Insiders Place Their Bets
In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 approximately $3,758,710.41. The trade was a 39.66% 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.
GE Vernova Price Performance
NYSE GEV opened at $1,082.09 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The firm’s 50 day moving average price is $1,029.97 and its 200-day moving average price is $862.69. GE Vernova Inc. has a 52-week low of $482.20 and a 52-week high of $1,181.95. The company has a market cap of $290.78 billion, a PE ratio of 31.52, a P/E/G ratio of 3.92 and a beta of 1.23.
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, topping analysts’ consensus estimates of $1.95 by $15.49. The company 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%. GE Vernova’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 earnings per share. Sell-side analysts forecast that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.
GE Vernova Announces Dividend
The business also recently declared 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. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s payout ratio is presently 5.83%.
GE Vernova News Roundup
Here are the key news stories impacting GE Vernova this week:
- Positive Sentiment: New commentary points to GE Vernova as a direct beneficiary of soaring AI-related electricity demand, with its gas turbines and electrification equipment seen as essential to powering new data centers.
- Positive Sentiment: Analysts and media reports say the company has significant pricing power because turbine demand is outstripping supply, which could support higher margins and stronger earnings growth.
- Positive Sentiment: Recent articles also highlighted GE Vernova’s GridOS for Transmission launch and AI-focused grid software initiatives, reinforcing its exposure to grid modernization and utility spending.
- Neutral Sentiment: Several write-ups focus on valuation after the stock’s big run, suggesting investors are debating how much upside remains rather than pointing to a new fundamental catalyst.
- Neutral Sentiment: Peer comparisons, including coverage versus Public Service Enterprise Group, frame GE Vernova as one of the main grid modernization plays, but do not materially change the near-term story.
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.
Featured Articles
- Five stocks we like better than GE Vernova
- MDA Space Targets US Defense Market With $620M Acquisition
- Carnival’s Second Quarter: Is the Stock Still Complicated?
- Domino’s Stock Slides to 52-Week Low as Investors Digest CEO Change
- Microsoft Solves AI’s Biggest Bottleneck With Chevron Deal
Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV – Free Report).
Receive News & Ratings for GE Vernova Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GE Vernova and related companies with MarketBeat.com's FREE daily email newsletter.
