Gateway Wealth Partners LLC lifted its position in GE Vernova Inc. (NYSE:GEV – Free Report) by 213.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,237 shares of the company’s stock after purchasing an additional 2,204 shares during the period. Gateway Wealth Partners LLC’s holdings in GE Vernova were worth $2,825,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of GEV. Auto Owners Insurance Co grew its position in shares of GE Vernova by 110,973.4% during the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after buying an additional 34,826,773 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of GE Vernova by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after buying an additional 208,162 shares during the period. State Street Corp raised its holdings in shares of GE Vernova by 2.1% in the fourth quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after acquiring an additional 231,392 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of GE Vernova by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock valued at $4,074,039,000 after acquiring an additional 68,894 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of GE Vernova by 12.8% in the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock valued at $3,957,024,000 after acquiring an additional 685,466 shares in the last quarter.
GE Vernova Stock Performance
Shares of GE Vernova stock opened at $997.11 on Tuesday. The company has a market capitalization of $265.56 billion, a PE ratio of 28.54, a P/E/G ratio of 3.72 and a beta of 1.09. The company has a 50-day simple moving average of $1,034.12 and a two-hundred day simple moving average of $925.93. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85.
GE Vernova Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 16th. GE Vernova’s payout ratio is currently 5.72%.
Wall Street Analyst Weigh In
GEV has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Mizuho boosted their price target on shares of GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a report on Friday. TD Cowen upped their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Argus set a $1,300.00 price objective on shares of GE Vernova in a research note on Monday, April 27th. Finally, BMO Capital Markets increased 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 note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $1,133.15.
Check Out Our Latest Analysis on GE Vernova
Insiders Place Their Bets
In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the sale, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction 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 sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate 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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