Portus Wealth Advisors LLC Has $1.46 Million Holdings in GE Vernova Inc. $GEV

Portus Wealth Advisors LLC raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 132.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,677 shares of the company’s stock after purchasing an additional 954 shares during the period. GE Vernova accounts for approximately 1.4% of Portus Wealth Advisors LLC’s holdings, making the stock its 19th biggest holding. Portus Wealth Advisors LLC’s holdings in GE Vernova were worth $1,464,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Auto Owners Insurance Co lifted its holdings in GE Vernova by 110,973.4% in the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after buying an additional 34,826,773 shares during the period. Norges Bank bought a new position in GE Vernova in the fourth quarter valued at approximately $2,283,114,000. Northwestern Mutual Wealth Management Co. boosted its stake in GE Vernova by 5,171.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock valued at $1,603,114,000 after acquiring an additional 2,406,326 shares during the last quarter. Capital World Investors grew its holdings in GE Vernova by 1,907.5% during the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after acquiring an additional 2,048,792 shares during the period. Finally, Corient Private Wealth LLC raised its position in shares of GE Vernova by 2,802.8% during the 4th quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock valued at $1,051,407,000 after acquiring an additional 1,553,295 shares during the last quarter.

GE Vernova Trading Up 0.1%

Shares of NYSE GEV opened at $1,045.74 on Monday. GE Vernova Inc. has a twelve month low of $482.20 and a twelve month high of $1,181.95. The stock has a market cap of $281.01 billion, a price-to-earnings ratio of 30.46, a P/E/G ratio of 3.87 and a beta of 1.24. 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 company’s fifty day moving average is $1,031.16 and its 200-day moving average is $865.68.

GE Vernova (NYSE:GEV) last released 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 analysts’ expectations of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. Equities research analysts predict that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.50 per share. 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 (DPR) is currently 5.83%.

Insider Transactions at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the business’s 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 transaction, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the 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 value of $2,470,856.97. Following the sale, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GEV shares. Morgan Stanley increased their price target on GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. Robert W. Baird lifted their price objective 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. Rothschild & Co Redburn upgraded GE Vernova from a “sell” rating to a “buy” rating and upped their price objective for the company from $560.00 to $1,100.00 in a report on Monday, March 9th. Zacks Research lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Citigroup raised their target price on GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,089.88.

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.