Patton Fund Management Inc. Purchases 5,529 Shares of GE Vernova Inc. $GEV

Patton Fund Management Inc. grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 1,462.7% during the first quarter, Holdings Channel reports. The fund owned 5,907 shares of the company’s stock after purchasing an additional 5,529 shares during the period. GE Vernova makes up about 0.9% of Patton Fund Management Inc.’s holdings, making the stock its 14th biggest holding. Patton Fund Management Inc.’s holdings in GE Vernova were worth $5,156,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Red Door Wealth Management LLC lifted its stake in shares of GE Vernova by 0.6% in the 1st quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock valued at $1,548,000 after purchasing an additional 10 shares during the period. Aspire Private Capital LLC bought a new stake in shares of GE Vernova during the first quarter valued at approximately $234,000. Patriot Financial Group Insurance Agency LLC grew its stake in GE Vernova by 96.9% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 7,232 shares of the company’s stock worth $6,313,000 after purchasing an additional 3,560 shares during the period. Janney Montgomery Scott LLC grew its stake in GE Vernova by 12.1% in the first quarter. Janney Montgomery Scott LLC now owns 98,296 shares of the company’s stock worth $85,803,000 after purchasing an additional 10,623 shares during the period. Finally, J. L. Bainbridge & Co. Inc. raised its holdings in GE Vernova by 2.5% in the first quarter. J. L. Bainbridge & Co. Inc. now owns 527 shares of the company’s stock worth $460,000 after purchasing an additional 13 shares in the last quarter.

Insider Transactions at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the company’s 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 transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 sale, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. TD Cowen raised their price objective on GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Barclays upped their target price on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,328.00 price target on shares of GE Vernova in a research note on Friday, April 24th. Argus set a $1,300.00 price objective on shares of GE Vernova in a research note on Monday, April 27th. Finally, Rothschild & Co Redburn raised shares of GE Vernova from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $560.00 to $1,100.00 in a research note on Monday, March 9th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,089.88.

GE Vernova Trading Up 0.1%

GE Vernova stock opened at $1,045.74 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. The business’s fifty day simple moving average is $1,031.16 and its two-hundred day simple moving average is $865.68. GE Vernova Inc. has a 12 month low of $482.20 and a 12 month high of $1,181.95. The company has a market capitalization of $281.01 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 3.87 and a beta of 1.24.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. The firm had revenue of $9.34 billion during 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 company’s revenue was up 17.0% on a year-over-year basis. During the same period last year, the company earned $0.91 earnings per share. As a group, equities analysts predict that GE Vernova Inc. will post 14.99 earnings per share 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. Investors of record on Tuesday, June 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s dividend payout ratio 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.