Strategic Financial Services Inc. Boosts Holdings in GE Vernova Inc. $GEV

Strategic Financial Services Inc. lifted its stake in GE Vernova Inc. (NYSE:GEV) by 37.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,146 shares of the company’s stock after buying an additional 849 shares during the period. Strategic Financial Services Inc.’s holdings in GE Vernova were worth $2,056,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. J.W. Cole Advisors Inc. increased its position in GE Vernova by 25.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock valued at $9,990,000 after acquiring an additional 3,278 shares during the period. US Bancorp DE increased its position in GE Vernova by 2.2% in the 3rd quarter. US Bancorp DE now owns 100,542 shares of the company’s stock valued at $61,824,000 after acquiring an additional 2,163 shares during the period. Vanguard Group Inc. increased its position in GE Vernova by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock valued at $15,259,028,000 after acquiring an additional 150,892 shares during the period. Varenne Capital Partners acquired a new position in GE Vernova in the 3rd quarter valued at about $4,872,000. Finally, Stevens Capital Management LP increased its position in GE Vernova by 56.0% in the 3rd quarter. Stevens Capital Management LP now owns 3,640 shares of the company’s stock valued at $2,238,000 after acquiring an additional 1,307 shares during the period.

GE Vernova Stock Up 3.2%

Shares of NYSE:GEV opened at $1,071.65 on Wednesday. The company has a market cap of $287.97 billion, a price-to-earnings ratio of 31.22, a PEG ratio of 3.89 and a beta of 1.51. The firm’s 50-day simple moving average is $987.58 and its 200-day simple moving average is $798.82. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a fifty-two week low of $458.65 and a fifty-two week high of $1,181.95.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating 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 firm had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the business earned $0.91 earnings per share. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, equities research analysts predict that GE Vernova Inc. will post 14.84 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 5.83%.

Insider Activity at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s 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 in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GEV shares. Argus set a $1,300.00 price target on GE Vernova in a research report on Monday, April 27th. Royal Bank Of Canada boosted their price target on GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. JPMorgan Chase & Co. lifted their target price on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. BMO Capital Markets lifted their target price on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Finally, Evercore lifted their target price on shares of GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,090.76.

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.