Tulsa Wealth Advisors INC Makes New Investment in GE Vernova Inc. $GEV

Tulsa Wealth Advisors INC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,106 shares of the company’s stock, valued at approximately $1,376,000.

Several other hedge funds also recently added to or reduced their stakes in the company. RFG Advisory LLC grew its stake in 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 acquiring an additional 13 shares in the last quarter. BlackDiamond Wealth Management LLC lifted its stake in GE Vernova by 2.8% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company’s stock worth $308,000 after acquiring an additional 13 shares during the period. First Commonwealth Financial Corp PA lifted its stake in GE Vernova by 3.5% in the fourth quarter. First Commonwealth Financial Corp PA now owns 380 shares of the company’s stock worth $248,000 after acquiring an additional 13 shares during the period. Apriem Advisors grew its holdings in GE Vernova by 0.7% during the 4th quarter. Apriem Advisors now owns 2,124 shares of the company’s stock worth $1,388,000 after acquiring an additional 14 shares in the last quarter. Finally, Voisard Asset Management Group Inc. grew its holdings in GE Vernova by 2.7% during the 4th quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company’s stock worth $376,000 after acquiring an additional 15 shares in the last quarter.

GE Vernova Stock Up 0.2%

Shares of GEV stock opened at $1,111.65 on Friday. GE Vernova Inc. has a 1-year low of $479.04 and a 1-year high of $1,181.95. The stock’s fifty day moving average price is $1,022.78 and its 200 day moving average price is $847.85. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The company has a market cap of $298.72 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 4.11 and a beta of 1.23.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the prior year, the company posted $0.91 EPS. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. On average, research analysts expect that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s payout ratio is presently 5.83%.

Insiders Place Their Bets

In other news, CEO Victor Abate sold 4,819 shares of the business’s 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 completion of the transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 completion of the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, 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. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. TD Cowen boosted their price target on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Weiss Ratings upgraded shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a report on Thursday, April 23rd. Erste Group Bank raised shares of GE Vernova to a “strong-buy” rating in a report on Tuesday, March 24th. Finally, Morgan Stanley upped their target price on GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,089.88.

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.