GE Vernova Inc. $GEV Shares Sold by SFE Investment Counsel

SFE Investment Counsel lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 11.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,005 shares of the company’s stock after selling 667 shares during the period. SFE Investment Counsel’s holdings in GE Vernova were worth $4,369,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GEV. Manning & Napier Advisors LLC grew its position in shares of GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after buying an additional 13 shares in the last quarter. Torren Management LLC acquired a new stake in GE Vernova in the fourth quarter valued at approximately $26,000. Cornerstone Financial Management LLC acquired a new stake in GE Vernova in the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new position in GE Vernova in the third quarter worth approximately $25,000. Finally, ORG Wealth Partners LLC grew its holdings in GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after acquiring an additional 29 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have commented on GEV. Morgan Stanley increased their price objective on shares of GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. Susquehanna set a $1,300.00 target price on shares of GE Vernova in a research note on Thursday, April 23rd. TD Cowen increased their target price on GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Wells Fargo & Company raised their price target on GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Finally, Barclays lifted their price target on GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,089.88.

GE Vernova Stock Up 1.4%

NYSE:GEV traded up $15.38 during midday trading on Friday, hitting $1,090.64. 1,737,069 shares of the company were exchanged, compared to its average volume of 2,887,361. The company has a fifty day simple moving average of $1,040.14 and a 200 day simple moving average of $895.32. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $293.08 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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. The company had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. GE Vernova’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 earnings per share. As a group, equities analysts anticipate that GE Vernova Inc. will post 15.06 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 given 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 dividend payout ratio is 5.83%.

Insider Transactions at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

GE Vernova Profile

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.