Main Street Research LLC Grows Stake in GE Vernova Inc. $GEV

Main Street Research LLC lifted its position in GE Vernova Inc. (NYSE:GEV) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,161 shares of the company’s stock after buying an additional 520 shares during the period. GE Vernova makes up about 1.8% of Main Street Research LLC’s investment portfolio, making the stock its 28th biggest position. Main Street Research LLC’s holdings in GE Vernova were worth $32,130,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. RFG Advisory LLC boosted its stake in shares of GE Vernova by 2.1% in the 4th quarter. RFG Advisory LLC now owns 634 shares of the company’s stock worth $414,000 after buying an additional 13 shares during the last quarter. Voisard Asset Management Group Inc. boosted its stake in shares of GE Vernova by 2.7% in the 4th quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company’s stock worth $376,000 after buying an additional 15 shares during the last quarter. Clean Yield Group boosted its stake in shares of GE Vernova by 2.2% in the 4th quarter. Clean Yield Group now owns 685 shares of the company’s stock worth $448,000 after buying an additional 15 shares during the last quarter. Rossmore Private Capital boosted its stake in shares of GE Vernova by 2.8% in the 4th quarter. Rossmore Private Capital now owns 559 shares of the company’s stock worth $365,000 after buying an additional 15 shares during the last quarter. Finally, Forefront Wealth Partners LLC boosted its stake in shares of GE Vernova by 1.5% in the 4th quarter. Forefront Wealth Partners LLC now owns 997 shares of the company’s stock worth $652,000 after buying an additional 15 shares during the last quarter.

GE Vernova Price Performance

NYSE:GEV opened at $1,039.71 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The business’s 50-day simple moving average is $978.06 and its two-hundred day simple moving average is $791.75. The stock has a market cap of $279.39 billion, a PE ratio of 30.29, a P/E/G ratio of 3.89 and a beta of 1.51. GE Vernova Inc. has a 52 week low of $458.65 and a 52 week high of $1,181.95.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. The business had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share. As a group, analysts forecast that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be issued 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 dividend payout ratio (DPR) is currently 5.83%.

Analysts Set New Price Targets

GEV has been the topic of a number of recent research reports. Oppenheimer set a $1,303.00 target price on GE Vernova in a report on Thursday, April 23rd. Evercore raised their target price on GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. Weiss Ratings raised GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Citigroup raised their target price on GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,328.00 target price on shares of GE Vernova in a report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,090.76.

Insider Buying and Selling

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was 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 directly owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by corporate 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.