Rathbones Group PLC Has $43.30 Million Stock Position in GE Vernova Inc. $GEV

Rathbones Group PLC cut its holdings in GE Vernova Inc. (NYSE:GEV) by 26.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,605 shares of the company’s stock after selling 17,704 shares during the period. Rathbones Group PLC’s holdings in GE Vernova were worth $43,300,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of GEV. Onyx Bridge Wealth Group LLC grew its position in shares of GE Vernova by 1.3% during the 1st quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock worth $635,000 after purchasing an additional 9 shares in the last quarter. Red Door Wealth Management LLC raised its position in shares of GE Vernova by 0.6% in the first quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock valued at $1,548,000 after buying an additional 10 shares in the last quarter. Advance Capital Management Inc. boosted its stake in shares of GE Vernova by 2.2% in the first quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock valued at $402,000 after buying an additional 10 shares during the period. Alpha Financial Partners LLC boosted its stake in shares of GE Vernova by 2.0% in the first quarter. Alpha Financial Partners LLC now owns 514 shares of the company’s stock valued at $449,000 after buying an additional 10 shares during the period. Finally, Bell Investment Advisors Inc grew its position in GE Vernova by 5.2% during the first quarter. Bell Investment Advisors Inc now owns 221 shares of the company’s stock worth $193,000 after buying an additional 11 shares in the last quarter.

Insiders Place Their Bets

In related news, CEO Victor Abate sold 4,819 shares of the 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 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s 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 transaction, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GEV shares. Royal Bank Of Canada raised their price objective on GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. lifted their price target on GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. BMO Capital Markets raised their price target on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Argus set a $1,300.00 price objective on shares of GE Vernova in a research note on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,133.15.

GE Vernova Stock Performance

GEV stock opened at $990.30 on Monday. GE Vernova Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average price of $1,028.05 and a 200-day moving average price of $934.82. The firm has a market cap of $263.75 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 3.56 and a beta of 1.09.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.86 earnings per share. As a group, equities research analysts expect that GE Vernova Inc. will post 15.46 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is 5.72%.

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.