Gateway Wealth Partners LLC Grows Position in GE Vernova Inc. $GEV

Gateway Wealth Partners LLC boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 213.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,237 shares of the company’s stock after purchasing an additional 2,204 shares during the period. Gateway Wealth Partners LLC’s holdings in GE Vernova were worth $2,825,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Watch Advisors INC purchased a new position in GE Vernova in the 3rd quarter worth $25,000. Cornerstone Financial Management LLC purchased a new stake in GE Vernova during the 4th 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. Manning & Napier Advisors LLC increased its holdings in shares of GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after purchasing an additional 13 shares during the period. Finally, ORG Wealth Partners LLC increased its holdings 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 purchasing an additional 29 shares during the period.

GE Vernova Stock Performance

Shares of GEV stock opened at $997.11 on Tuesday. GE Vernova Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The stock has a market cap of $265.56 billion, a PE ratio of 28.54, a price-to-earnings-growth ratio of 3.72 and a beta of 1.09. The business has a 50-day simple moving average of $1,034.12 and a 200-day simple moving average of $925.93.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. During the same quarter in the prior year, the business posted $1.86 earnings per share. The firm’s revenue was up 21.9% compared to the same quarter last year. On average, equities analysts expect that GE Vernova Inc. will post 15.16 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 16th. GE Vernova’s payout ratio is 5.72%.

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 on Monday, June 1st. The shares were 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 approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 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 trade represents a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of research reports. Mizuho lifted their target price on GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a report on Friday. Guggenheim increased their price target on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a report on Thursday. Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays lifted their price objective on shares of GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Finally, Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,133.15.

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.