University of Texas Texas AM Investment Management Co. Increases Position in GE Vernova Inc. $GEV

University of Texas Texas AM Investment Management Co. boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 20.6% during the 4th quarter, Holdings Channel reports. The firm owned 5,205 shares of the company’s stock after buying an additional 888 shares during the period. University of Texas Texas AM Investment Management Co.’s holdings in GE Vernova were worth $3,402,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. grew its stake in shares of GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after buying an additional 31 shares in the last quarter. Cornerstone Financial Management LLC bought a new position in shares of GE Vernova during the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new stake in GE Vernova in the third quarter worth $25,000. Torren Management LLC purchased a new position in GE Vernova in the 4th quarter worth about $26,000. Finally, ORG Wealth Partners LLC raised its stake in shares of GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after acquiring an additional 29 shares in the last quarter.

GE Vernova Stock Up 4.2%

GEV opened at $980.08 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. GE Vernova Inc. has a one year low of $479.04 and a one year high of $1,181.95. The business’s 50-day simple moving average is $1,010.48 and its 200-day simple moving average is $836.38. The stock has a market capitalization of $263.37 billion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 3.49 and a beta of 1.24.

GE Vernova (NYSE:GEV) last announced its earnings results 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 business had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the previous year, the company posted $0.91 EPS. The company’s quarterly revenue was up 17.0% on a year-over-year basis. Analysts anticipate that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

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 $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 payout ratio is currently 5.83%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GEV. Wells Fargo & Company boosted their price target on shares of GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Weiss Ratings upgraded GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Argus set a $1,300.00 price objective on shares of GE Vernova in a report on Monday, April 27th. Royal Bank Of Canada upped their target price on GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Finally, Jefferies Financial Group cut their price target on GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,085.16.

Insider Transactions at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the 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 sale, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $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. 0.21% of the stock is currently owned by corporate insiders.

GE Vernova Company 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.