530 Shares in GE Vernova Inc. $GEV Purchased by WNY Asset Management LLC

WNY Asset Management LLC acquired a new position in GE Vernova Inc. (NYSE:GEV) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 530 shares of the company’s stock, valued at approximately $463,000.

Several other large investors have also modified their holdings of GEV. World Investment Advisors boosted its holdings in shares of GE Vernova by 19.9% in the fourth quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after purchasing an additional 2,241 shares during the period. Merit Financial Group LLC increased its holdings in GE Vernova by 17.4% during the 4th quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock worth $9,856,000 after purchasing an additional 2,230 shares during the period. Vest Financial LLC increased its holdings in GE Vernova by 56.7% during the 4th quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock worth $43,260,000 after purchasing an additional 23,956 shares during the period. Riverbend Wealth Management LLC bought a new stake in GE Vernova during the 4th quarter valued at $567,000. Finally, RiverFront Investment Group LLC raised its position in GE Vernova by 239.2% during the 4th quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock valued at $1,432,000 after purchasing an additional 1,545 shares in the last quarter.

Insiders Place Their Bets

In related news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction dated 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 sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GEV shares. Sanford C. Bernstein increased their price target on GE Vernova from $1,206.00 to $1,298.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Zacks Research downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. The Goldman Sachs Group restated a “buy” rating and issued a $1,328.00 price objective on shares of GE Vernova in a report on Friday, April 24th. Guggenheim upped their price objective on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Finally, Mizuho increased their target price on shares of GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,133.15.

GE Vernova Trading Up 0.8%

NYSE:GEV opened at $990.30 on Friday. GE Vernova Inc. has a 52 week low of $530.16 and a 52 week high of $1,195.94. The firm has a 50 day moving average of $1,028.05 and a 200 day moving average of $932.76. 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 capitalization of $263.75 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 3.56 and a beta of 1.09.

GE Vernova (NYSE:GEV) last announced its 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 firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same quarter last year, the business earned $1.86 earnings per share. GE Vernova’s revenue was up 21.9% on a year-over-year basis. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 15.46 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed 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 was Tuesday, June 16th. GE Vernova’s dividend payout ratio is currently 5.72%.

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.