GE Vernova Inc. $GEV Shares Sold by Versant Capital Management Inc

Versant Capital Management Inc reduced its holdings in shares of GE Vernova Inc. (NYSE:GEVFree Report) by 18.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,522 shares of the company’s stock after selling 560 shares during the quarter. Versant Capital Management Inc’s holdings in GE Vernova were worth $2,963,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cornerstone Financial Management LLC purchased a new position in shares of GE Vernova in the 4th quarter valued at $25,000. Wealth Watch Advisors INC purchased a new stake in GE Vernova during the 3rd quarter worth $25,000. Torren Management LLC purchased a new stake in GE Vernova during the 4th quarter worth $26,000. Manning & Napier Advisors LLC increased its holdings in GE Vernova by 68.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after purchasing an additional 13 shares in the last quarter. Finally, Navalign LLC acquired a new stake in GE Vernova in the 4th quarter valued at $27,000.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GEV. Barclays boosted their price objective on GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. BNP Paribas Exane lowered GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price for the company. in a research note on Monday, April 27th. Zacks Research downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Royal Bank Of Canada boosted their price target on GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Finally, Susquehanna set a $1,300.00 price target on GE Vernova in a report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,133.15.

Check Out Our Latest Stock Report on GE Vernova

GE Vernova Stock Performance

Shares of GEV stock opened at $1,008.71 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The company’s fifty day moving average price is $1,027.43 and its two-hundred day moving average price is $937.34. The firm has a market capitalization of $268.65 billion, a P/E ratio of 28.87, a P/E/G ratio of 3.56 and a beta of 1.21. GE Vernova Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94.

GE Vernova (NYSE:GEVGet Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. During the same quarter in the prior year, the business earned $1.86 earnings per share. The firm’s revenue was up 21.9% on a year-over-year basis. On average, research analysts anticipate that GE Vernova Inc. will post 15.46 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio is currently 5.72%.

Insider Buying and Selling

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by company insiders.

GE Vernova Profile

(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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