NewEdge Advisors LLC Purchases 2,167 Shares of GE Vernova Inc. $GEV

NewEdge Advisors LLC boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 3.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,010 shares of the company’s stock after purchasing an additional 2,167 shares during the quarter. NewEdge Advisors LLC’s holdings in GE Vernova were worth $59,704,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. First Nebraska Trust Co acquired a new stake in GE Vernova during the first quarter worth about $357,000. Foguth Wealth Management LLC. acquired a new position in GE Vernova in the first quarter valued at about $233,000. Financial Solutions Advisory Group Inc. bought a new stake in GE Vernova during the 1st quarter worth approximately $216,000. Cozad Asset Management Inc. grew its holdings in shares of GE Vernova by 9.1% during the first quarter. Cozad Asset Management Inc. now owns 694 shares of the company’s stock worth $606,000 after purchasing an additional 58 shares during the last quarter. Finally, Allen Capital Group LLC grew its holdings in GE Vernova by 20.4% during the 1st quarter. Allen Capital Group LLC now owns 655 shares of the company’s stock worth $572,000 after acquiring an additional 111 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. BMO Capital Markets increased their price objective on GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Robert W. Baird boosted their price objective on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of GE Vernova in a research note on Tuesday, July 21st. TD Cowen upped their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. increased their price objective on GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,133.15.

GE Vernova Stock Down 1.9%

GE Vernova stock opened at $998.35 on Friday. The company’s 50-day moving average is $1,026.19 and its 200-day moving average is $944.87. The firm has a market capitalization of $265.89 billion, a PE ratio of 28.57, a P/E/G ratio of 3.63 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) 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 business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter in the prior year, the company earned $1.86 EPS. GE Vernova’s quarterly revenue was up 21.9% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova Inc. will post 15.57 earnings per share for the current year.

GE Vernova Announces Dividend

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

Insider Buying and Selling

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova 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 owned 1,835 shares in the company, valued at $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 is available through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction 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. The trade was a 39.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

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.