Vertrix Wealth Management LLC Takes $827,000 Position in GE Vernova Inc. $GEV

Vertrix Wealth Management LLC acquired a new position in GE Vernova Inc. (NYSE:GEVFree Report) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 947 shares of the company’s stock, valued at approximately $827,000.

A number of other hedge funds have also recently made changes to their positions in GEV. Brighton Jones LLC raised its position in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after purchasing an additional 753 shares during the period. Schnieders Capital Management LLC. boosted its position in shares of GE Vernova by 1.7% during the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock worth $828,000 after buying an additional 26 shares during the period. Jump Financial LLC purchased a new position in shares of GE Vernova during the second quarter worth $258,000. Ossiam acquired a new stake in shares of GE Vernova in the second quarter valued at $42,000. Finally, Nebula Research & Development LLC grew its stake in shares of GE Vernova by 23.9% in the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock valued at $886,000 after buying an additional 323 shares in the last quarter.

GE Vernova Stock Down 3.5%

GEV stock opened at $1,133.65 on Thursday. The company’s 50 day moving average price is $1,039.84 and its 200 day moving average price is $875.23. The firm has a market capitalization of $304.64 billion, a price-to-earnings ratio of 33.02, a PEG ratio of 4.35 and a beta of 1.08. GE Vernova Inc. has a fifty-two week low of $497.30 and a fifty-two week high of $1,181.95. 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 (NYSE:GEVGet Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The firm’s revenue was up 17.0% on a year-over-year basis. On average, equities research analysts anticipate that GE Vernova Inc. will post 14.99 EPS 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 paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is presently 5.83%.

Insiders Place Their Bets

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction 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 transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the firm’s 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 sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. BNP Paribas Exane cut shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective for the company. in a report on Monday, April 27th. Morgan Stanley upped their target price on shares of GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. TD Cowen raised their price target on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Finally, Guggenheim boosted their price target on shares of GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Three 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.com, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $1,089.88.

Read Our Latest Analysis on GEV

Key GE Vernova News

Here are the key news stories impacting GE Vernova this week:

GE Vernova Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for GE Vernova (NYSE:GEV)

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