Sovran Advisors LLC Boosts Stock Position in GE Vernova Inc. $GEV

Sovran Advisors LLC lifted its stake in GE Vernova Inc. (NYSE:GEV) by 35.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 2,971 shares of the company’s stock after purchasing an additional 772 shares during the period. Sovran Advisors LLC’s holdings in GE Vernova were worth $2,593,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GEV. Brighton Jones LLC grew its holdings in GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares in the last quarter. Schnieders Capital Management LLC. boosted its position in shares of GE Vernova by 1.7% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after acquiring an additional 26 shares during the last quarter. Jump Financial LLC acquired a new position in shares of GE Vernova during the 2nd quarter valued at about $258,000. Ossiam purchased a new stake in shares of GE Vernova in the second quarter valued at about $42,000. Finally, Nebula Research & Development LLC increased its position in GE Vernova by 23.9% during the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock worth $886,000 after purchasing an additional 323 shares during the last quarter.

GE Vernova Trading Up 1.4%

Shares of GE Vernova stock traded up $15.38 on Friday, reaching $1,090.64. The company had a trading volume of 1,737,069 shares, compared to its average volume of 2,887,361. The firm’s 50 day moving average price is $1,040.14 and its two-hundred day moving average price is $895.32. 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 Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94. The firm has a market cap of $293.08 billion, a PE ratio of 31.77, a PEG ratio of 4.03 and a beta of 1.09.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the company posted $0.91 EPS. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. Sell-side analysts predict that GE Vernova Inc. will post 15.06 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. Stockholders of record on Tuesday, June 16th will be paid 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 dividend yield of 0.2%. GE Vernova’s payout ratio is presently 5.83%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Erste Group Bank upgraded shares of GE Vernova to a “strong-buy” rating in a report on Tuesday, March 24th. Oppenheimer set a $1,303.00 price objective on GE Vernova in a report on Thursday, April 23rd. Guggenheim increased their price objective on GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Morgan Stanley lifted their target price on GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. Finally, Zacks Research lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Three equities research 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,089.88.

Insider Buying and Selling at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.

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.