Purpose Unlimited Inc. Makes New $523,000 Investment in GE Vernova Inc. $GEV

Purpose Unlimited Inc. purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 800 shares of the company’s stock, valued at approximately $523,000.

A number of other institutional investors and hedge funds also recently modified their holdings of GEV. Auto Owners Insurance Co grew its holdings in shares of GE Vernova by 110,973.4% in the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after acquiring an additional 34,826,773 shares during the last quarter. Norges Bank purchased a new stake in shares of GE Vernova during the fourth quarter valued at $2,283,114,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of GE Vernova by 5,171.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock valued at $1,603,114,000 after purchasing an additional 2,406,326 shares during the period. Capital World Investors increased its stake in GE Vernova by 1,907.5% in the 3rd 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 in the last quarter. Finally, Corient Private Wealth LLC increased its stake in GE Vernova by 2,802.8% in the 4th 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 in the last quarter.

Analyst Upgrades and Downgrades

GEV has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their price objective on GE Vernova from $996.00 to $1,195.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. TD Cowen raised their target price on shares of GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Jefferies Financial Group cut their price target on shares of GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating on the stock in a report on Thursday, June 11th. Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a research note on Thursday, April 23rd. Finally, Robert W. Baird lifted their price objective on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research report 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. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $1,089.88.

Insider Activity at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer 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 filing with the SEC, which is available at this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by corporate insiders.

GE Vernova Trading Up 0.2%

Shares of NYSE GEV opened at $1,111.65 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a one year low of $479.04 and a one year high of $1,181.95. The business has a 50-day moving average price of $1,022.78 and a two-hundred day moving average price of $849.76. The firm has a market capitalization of $298.72 billion, a PE ratio of 32.38, a PEG ratio of 4.11 and a beta of 1.24.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. The company had revenue of $9.34 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $0.91 EPS. As a group, analysts predict that GE Vernova Inc. will post 14.99 earnings per share 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 dividend of $0.50 per share. 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 presently 5.83%.

About GE Vernova

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.