GE Vernova Inc. $GEV Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 12.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,296 shares of the company’s stock after acquiring an additional 10,623 shares during the quarter. Janney Montgomery Scott LLC’s holdings in GE Vernova were worth $85,803,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. J. L. Bainbridge & Co. Inc. lifted its position in shares of GE Vernova by 2.5% during 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. AGH Wealth Advisors LLC acquired a new position in shares of GE Vernova in the first quarter valued at approximately $250,000. Cornerstone Wealth Group LLC grew its holdings in shares of GE Vernova by 8.4% in the first quarter. Cornerstone Wealth Group LLC now owns 1,433 shares of the company’s stock valued at $1,251,000 after purchasing an additional 111 shares in the last quarter. Onyx Bridge Wealth Group LLC increased its stake in GE Vernova by 1.3% during the 1st quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock worth $635,000 after buying an additional 9 shares during the period. Finally, Spectrum Asset Management Inc. NB CA purchased a new stake in GE Vernova during the 1st quarter worth approximately $721,000.

GE Vernova Stock Down 3.7%

Shares of NYSE:GEV opened at $1,045.74 on Friday. GE Vernova Inc. has a fifty-two week low of $482.20 and a fifty-two week high of $1,181.95. The firm’s 50 day moving average price is $1,031.16 and its 200 day moving average price is $863.97. 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 stock has a market cap 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 1.23.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS 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 in the prior year, the firm posted $0.91 EPS. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, equities research analysts predict that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. The ex-dividend date 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%.

Insider Buying and Selling at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction dated Monday, June 1st. The stock was 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 directly 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 Securities & Exchange Commission, which is available at this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer directly 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 SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GEV shares. Royal Bank Of Canada raised their price target on shares of GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Wells Fargo & Company upped their price objective on GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. TD Cowen increased their price objective on GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Zacks Research lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Robert W. Baird boosted their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.