Matthew Joseph Potvin Sells 2,333 Shares of GE Vernova (NYSE:GEV) Stock

GE Vernova Inc. (NYSE:GEV) CAO Matthew Joseph Potvin sold 2,333 shares of the business’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 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. This trade represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

GE Vernova Trading Down 3.4%

Shares of GEV traded down $35.62 on Monday, reaching $1,013.61. 3,109,429 shares of the company’s stock were exchanged, compared to its average volume of 2,652,021. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $272.38 billion, a P/E ratio of 55.60, a price-to-earnings-growth ratio of 3.93 and a beta of 1.51. The business has a 50 day moving average price of $957.76 and a two-hundred day moving average price of $775.95. GE Vernova Inc. has a 12 month low of $421.64 and a 12 month high of $1,181.95.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. The business 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 period in the previous year, the firm posted $0.91 earnings per share. Research analysts anticipate that GE Vernova Inc. will post 14.84 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, March 17th. GE Vernova’s payout ratio is 5.83%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GEV. Auto Owners Insurance Co boosted its holdings in GE Vernova by 110,973.4% during the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after purchasing an additional 34,826,773 shares during the last quarter. Norges Bank acquired a new position in GE Vernova during the fourth quarter worth $2,283,114,000. Northwestern Mutual Wealth Management Co. boosted its holdings in GE Vernova by 5,171.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after purchasing an additional 2,406,326 shares during the last quarter. Capital World Investors boosted its holdings in GE Vernova by 1,907.5% during the third quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after purchasing an additional 2,048,792 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in GE Vernova by 2,802.8% during the fourth quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock worth $1,051,407,000 after purchasing an additional 1,553,295 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Evercore boosted their price objective on shares of GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. BMO Capital Markets boosted 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 report on Thursday, April 23rd. China Renaissance upgraded shares of GE Vernova to a “strong-buy” rating in a report on Thursday, January 29th. Finally, Zacks Research cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,090.76.

GE Vernova Company Profile

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.