587 Shares in GE Vernova Inc. $GEV Bought by Old North State Trust LLC

Old North State Trust LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 587 shares of the company’s stock, valued at approximately $384,000.

Other large investors have also recently modified their holdings of the company. Purpose Unlimited Inc. acquired a new position in shares of GE Vernova in the 4th quarter worth approximately $523,000. Rockefeller Capital Management L.P. grew its stake in GE Vernova by 16.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 357,577 shares of the company’s stock worth $233,703,000 after purchasing an additional 50,236 shares during the period. Osbon Capital Management LLC acquired a new position in GE Vernova in the fourth quarter valued at approximately $69,000. Lane Brothers & Co. Inc. bought a new stake in shares of GE Vernova in the 4th quarter valued at $226,000. Finally, World Investment Advisors lifted its position in shares of GE Vernova by 19.9% during the 4th quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after acquiring an additional 2,241 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Citigroup lifted 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 note on Monday, April 13th. Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and boosted their target price for the company from $560.00 to $1,100.00 in a research report on Monday, March 9th. Royal Bank Of Canada upped their price target on GE Vernova from $996.00 to $1,195.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Weiss Ratings upgraded GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Finally, 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 note on Thursday, April 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,089.88.

Insider Activity at GE Vernova

In other 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction on Monday, June 1st. The stock was 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 in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by company insiders.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $1,111.65 on Friday. 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 cap of $298.72 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 4.11 and a beta of 1.23. The stock’s fifty day simple moving average is $1,022.78 and its two-hundred day simple moving average is $847.85. GE Vernova Inc. has a 1-year low of $479.04 and a 1-year high of $1,181.95.

GE Vernova (NYSE:GEV) last announced its 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. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, analysts forecast that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 5.83%.

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.