2,297 Shares in GE Vernova Inc. $GEV Purchased by Processus Wealth & Capital Management LLC

Processus Wealth & Capital Management LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,297 shares of the company’s stock, valued at approximately $2,699,000. GE Vernova comprises about 1.6% of Processus Wealth & Capital Management LLC’s portfolio, making the stock its 24th biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Auto Owners Insurance Co lifted its position in shares of GE Vernova by 110,973.4% during the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after purchasing an additional 34,826,773 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of GE Vernova by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after purchasing an additional 208,162 shares in the last quarter. State Street Corp increased its holdings in shares of GE Vernova by 2.1% in the fourth quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after purchasing an additional 231,392 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of GE Vernova by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock valued at $4,074,039,000 after purchasing an additional 68,894 shares in the last quarter. Finally, Morgan Stanley raised its position in GE Vernova by 12.8% in the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock worth $3,957,024,000 after purchasing an additional 685,466 shares during the last quarter.

Insider Buying and Selling

In related news, 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 transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer 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 SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Vernova in a report on Tuesday, July 21st. Robert W. Baird lifted their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada boosted their target price on GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. BMO Capital Markets reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Friday. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of GE Vernova in a report on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,133.15.

GE Vernova Trading Up 2.0%

NYSE GEV opened at $1,010.59 on Wednesday. The stock has a 50-day simple moving average of $1,028.19 and a 200 day simple moving average of $951.59. The company has a market capitalization of $269.15 billion, a PE ratio of 28.92, a P/E/G ratio of 3.53 and a beta of 1.21. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.GE Vernova’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the business posted $1.86 EPS. Research analysts forecast that GE Vernova Inc. will post 15.57 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Tuesday, June 16th. GE Vernova’s dividend payout ratio (DPR) is currently 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.