Walser Wealth Management Company A Ltd Liability Co Invests $479,000 in GE Vernova Inc. $GEV

Walser Wealth Management Company A Ltd Liability Co bought a new position in GE Vernova Inc. (NYSE:GEVFree Report) during the fourth quarter, HoldingsChannel reports. The firm bought 732 shares of the company’s stock, valued at approximately $479,000.

Several other hedge funds have also bought and sold shares of the business. US Bancorp DE boosted its holdings in shares of GE Vernova by 2.2% in the third quarter. US Bancorp DE now owns 100,542 shares of the company’s stock worth $61,824,000 after acquiring an additional 2,163 shares during the period. Varenne Capital Partners purchased a new position in shares of GE Vernova in the third quarter valued at $4,872,000. Merit Financial Group LLC raised its stake in shares of GE Vernova by 17.4% during the 4th quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock valued at $9,856,000 after purchasing an additional 2,230 shares during the period. Stevens Capital Management LP raised its stake in shares of GE Vernova by 56.0% during the 3rd quarter. Stevens Capital Management LP now owns 3,640 shares of the company’s stock valued at $2,238,000 after purchasing an additional 1,307 shares during the period. Finally, Vest Financial LLC lifted 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 in the last quarter.

Insider Activity at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s 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 value of $2,470,856.97. Following the sale, the chief accounting officer directly owned 3,549 shares of the company’s stock, 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 SEC, which is available through the SEC website. Also, CEO Victor Abate sold 4,819 shares of the firm’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 completion of the sale, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by corporate insiders.

GE Vernova Price Performance

GE Vernova stock opened at $1,111.65 on Friday. GE Vernova Inc. has a 52 week low of $479.04 and a 52 week high of $1,181.95. The business has a 50-day simple moving average of $1,019.28 and a 200 day simple moving average of $845.99. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The stock has a market cap of $298.72 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 3.89 and a beta of 1.23.

GE Vernova (NYSE:GEVGet Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the prior year, the company earned $0.91 EPS. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. On average, research analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal 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 given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s dividend payout ratio is 5.83%.

Analyst Upgrades and Downgrades

Several research analysts have commented on GEV shares. The Goldman Sachs Group restated a “buy” rating and issued a $1,328.00 target price on shares of GE Vernova in a research note on Friday, April 24th. Susquehanna set a $1,300.00 price target on GE Vernova in a research report on Thursday, April 23rd. Wells Fargo & Company increased their price target on shares of GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Barclays raised their price objective on shares of GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Finally, Sanford C. Bernstein assumed coverage on shares of GE Vernova in a research note on Tuesday. They set an “outperform” rating and a $1,206.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,089.88.

Check Out Our Latest Research Report on GE Vernova

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About GE Vernova

(Free Report)

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.

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Institutional Ownership by Quarter for GE Vernova (NYSE:GEV)

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