Waystone Advisors LLC Acquires Shares of 510 GE Vernova Inc. $GEV

Waystone Advisors LLC bought a new position in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 510 shares of the company’s stock, valued at approximately $333,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. grew its stake in GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the period. Wealth Watch Advisors INC purchased a new position in GE Vernova during the third quarter valued at $25,000. Torren Management LLC purchased a new position in GE Vernova during the fourth quarter valued at $26,000. ORG Wealth Partners LLC boosted its holdings in shares of 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 buying an additional 29 shares in the last quarter. Finally, Navalign LLC purchased a new stake in shares of GE Vernova in the 4th quarter worth about $27,000.

GE Vernova Price Performance

Shares of GEV opened at $1,031.61 on Thursday. The company has a market capitalization of $277.21 billion, a P/E ratio of 30.05, a price-to-earnings-growth ratio of 4.01 and a beta of 1.51. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average of $991.69 and a 200 day moving average of $802.21. GE Vernova Inc. has a twelve month low of $458.65 and a twelve month high of $1,181.95.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $15.49. The business had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 EPS. As a group, equities research analysts anticipate that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced 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 of this dividend is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is 5.83%.

Insider Activity at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GEV shares. Robert W. Baird lifted their price target on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Oppenheimer set a $1,303.00 target price on shares of GE Vernova in a report on Thursday, April 23rd. Barclays raised their price objective on GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Wall Street Zen raised GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Finally, Mizuho set a $714.00 target price on GE Vernova in a research note on Tuesday, February 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,090.76.

GE Vernova 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.