Dockside LLC Purchases New Shares in GE Vernova Inc. $GEV

Dockside LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,658 shares of the company’s stock, valued at approximately $2,391,000.

Several other institutional investors and hedge funds have also modified their holdings of GEV. Jackson Grant Investment Advisers Inc. grew its stake in shares of GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares in the last quarter. Wealth Watch Advisors INC acquired a new position in shares of GE Vernova in the third quarter valued at about $25,000. Torren Management LLC acquired a new position in shares of GE Vernova in the fourth quarter valued at about $26,000. ORG Wealth Partners LLC grew its stake in shares of GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after acquiring an additional 29 shares in the last quarter. Finally, Navalign LLC bought a new stake in GE Vernova during the fourth quarter worth about $27,000.

Insider Buying and Selling

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s 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 value of $2,470,856.97. Following the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the firm’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 transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

GE Vernova Stock Up 3.7%

NYSE GEV opened at $940.14 on Friday. The business has a fifty day moving average price of $1,008.85 and a two-hundred day moving average price of $831.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. GE Vernova Inc. has a fifty-two week low of $474.21 and a fifty-two week high of $1,181.95. The stock has a market capitalization of $252.63 billion, a PE ratio of 27.39, a PEG ratio of 3.49 and a beta of 1.23.

GE Vernova (NYSE:GEV) last posted its quarterly 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. 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 for the quarter, compared to the consensus estimate of $9.19 billion. During the same period last year, the company posted $0.91 EPS. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities analysts expect that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s dividend payout ratio (DPR) is presently 5.83%.

Wall Street Analyst Weigh In

GEV has been the subject of several recent analyst reports. Robert W. Baird upped 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. Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a research report on Thursday, April 23rd. Zacks Research cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Guggenheim upped their price objective on shares of GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, TD Cowen upped their target price on GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Two equities research 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. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $1,085.16.

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.