MidFirst Bank Acquires Shares of 1,807 GE Vernova Inc. $GEV

MidFirst Bank bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,807 shares of the company’s stock, valued at approximately $1,181,000.

Other institutional investors have also recently made changes to their positions in the company. US Bancorp DE increased its stake in GE Vernova by 2.2% during the 3rd quarter. US Bancorp DE now owns 100,542 shares of the company’s stock valued at $61,824,000 after purchasing an additional 2,163 shares in the last quarter. Varenne Capital Partners bought a new position in shares of GE Vernova during the third quarter valued at $4,872,000. Merit Financial Group LLC lifted its holdings in shares of GE Vernova by 17.4% during the fourth 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 in the last quarter. Stevens Capital Management LP boosted its position in shares of GE Vernova by 56.0% during the third quarter. Stevens Capital Management LP now owns 3,640 shares of the company’s stock valued at $2,238,000 after buying an additional 1,307 shares during the last quarter. Finally, Vest Financial LLC boosted its position in shares of GE Vernova by 56.7% during the fourth quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock valued at $43,260,000 after buying an additional 23,956 shares during the last quarter.

Insider Activity at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction 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 in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. 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 Trading Up 0.2%

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 company has a market cap of $298.72 billion, a P/E ratio of 32.38, a P/E/G ratio of 4.11 and a beta of 1.23. 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 business has a 50-day simple moving average of $1,022.78 and a two-hundred day simple moving average of $847.85.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping the consensus estimate of $1.95 by $15.49. The firm had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 EPS. Analysts predict that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GEV. Morgan Stanley boosted their target price on GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a research report on Monday, March 23rd. TD Cowen raised their price target on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Sanford C. Bernstein initiated coverage on shares of GE Vernova in a report on Tuesday. They set an “outperform” rating and a $1,206.00 price objective for the company. Finally, Robert W. Baird increased 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 research report on Thursday, April 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,089.88.

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.