Quadrant Capital Group LLC Grows Stake in GE Vernova Inc. $GEV

Quadrant Capital Group LLC boosted its position in GE Vernova Inc. (NYSE:GEV) by 18.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,194 shares of the company’s stock after purchasing an additional 1,415 shares during the period. Quadrant Capital Group LLC’s holdings in GE Vernova were worth $6,009,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Castleark Management LLC increased its stake in GE Vernova by 2.5% in the 4th quarter. Castleark Management LLC now owns 47,741 shares of the company’s stock valued at $31,202,000 after purchasing an additional 1,168 shares in the last quarter. Empire Financial Management Company LLC increased its stake in GE Vernova by 1.0% in the 4th quarter. Empire Financial Management Company LLC now owns 1,453 shares of the company’s stock valued at $950,000 after purchasing an additional 15 shares in the last quarter. CI Investments Inc. increased its stake in GE Vernova by 108.8% in the 4th quarter. CI Investments Inc. now owns 210,218 shares of the company’s stock valued at $137,392,000 after purchasing an additional 109,559 shares in the last quarter. Douglass Winthrop Advisors LLC increased its stake in GE Vernova by 8.5% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 2,188 shares of the company’s stock valued at $1,430,000 after purchasing an additional 171 shares in the last quarter. Finally, Laurel Oak Wealth Management LLC purchased a new position in GE Vernova in the 4th quarter valued at approximately $225,000.

Insiders Place Their Bets

In related news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction 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 transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction 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 completion of the transaction, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. The trade was a 39.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GEV shares. Morgan Stanley raised their price target on GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a research report on Monday, March 23rd. Jefferies Financial Group dropped their price target on GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating for the company in a research report on Thursday. Oppenheimer set a $1,303.00 price target on GE Vernova in a research report on Thursday, April 23rd. BNP Paribas Exane downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target for the company. in a research report on Monday, April 27th. Finally, Wells Fargo & Company raised their price target on GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Two equities 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,085.16.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $940.14 on Friday. The company has a market cap of $252.63 billion, a P/E ratio of 27.39, a P/E/G ratio of 3.36 and a beta of 1.23. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a 52 week low of $474.21 and a 52 week high of $1,181.95. The business has a fifty day simple moving average of $1,008.85 and a 200-day simple moving average of $831.73.

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. The business had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share. Equities research analysts forecast that GE Vernova Inc. will post 14.99 EPS for the current 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 issued a $0.50 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 5.83%.

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.