Cynosure Group LLC Buys 2,014 Shares of GE Vernova Inc. $GEV

Cynosure Group LLC lifted its stake in GE Vernova Inc. (NYSE:GEV) by 15.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,180 shares of the company’s stock after purchasing an additional 2,014 shares during the period. GE Vernova comprises about 0.5% of Cynosure Group LLC’s investment portfolio, making the stock its 21st largest position. Cynosure Group LLC’s holdings in GE Vernova were worth $9,921,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in GEV. US Bancorp DE grew its holdings in GE Vernova by 2.2% during the 3rd quarter. US Bancorp DE now owns 100,542 shares of the company’s stock worth $61,824,000 after acquiring an additional 2,163 shares in the last quarter. Vanguard Group Inc. grew its holdings in GE Vernova by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock worth $15,259,028,000 after acquiring an additional 150,892 shares in the last quarter. Varenne Capital Partners bought a new position in GE Vernova during the 3rd quarter worth about $4,872,000. Merit Financial Group LLC grew its holdings in GE Vernova by 17.4% during the 4th quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock worth $9,856,000 after acquiring an additional 2,230 shares in the last quarter. Finally, Stevens Capital Management LP grew its holdings in GE Vernova by 56.0% during the 3rd quarter. Stevens Capital Management LP now owns 3,640 shares of the company’s stock worth $2,238,000 after acquiring an additional 1,307 shares in the last quarter.

Analyst Ratings Changes

GEV has been the topic of several recent research reports. Morgan Stanley increased their target price on shares of GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. Royal Bank Of Canada increased their price target on shares of GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Citigroup increased their price target on shares of GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. BNP Paribas Exane lowered shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target for the company. in a research report on Monday, April 27th. Finally, Zacks Research lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Two investment 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,085.16.

GE Vernova Stock Performance

GEV stock opened at $980.08 on Tuesday. The firm has a market cap of $263.37 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 3.49 and a beta of 1.24. The firm has a 50-day simple moving average of $1,010.48 and a two-hundred day simple moving average of $836.38. GE Vernova Inc. has a one year low of $479.04 and a one year high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating the consensus estimate of $1.95 by $15.49. The business had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company’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 earnings per share. On average, equities analysts forecast that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors 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 dividend payout ratio (DPR) is presently 5.83%.

Insider Activity at GE Vernova

In related news, 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 completion of the transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the 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 transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at $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. Company insiders own 0.21% of the company’s stock.

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.