Union Savings Bank Makes New Investment in GE Vernova Inc. $GEV

Union Savings Bank acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 827 shares of the company’s stock, valued at approximately $540,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC raised its position in shares of GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after buying an additional 753 shares in the last quarter. Schnieders Capital Management LLC. boosted its position in shares of GE Vernova by 1.7% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after purchasing an additional 26 shares during the period. Jump Financial LLC purchased a new position in shares of GE Vernova in the second quarter worth approximately $258,000. Ossiam acquired a new stake in GE Vernova during the 2nd quarter valued at $42,000. Finally, Nebula Research & Development LLC raised its stake in GE Vernova by 23.9% during the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock valued at $886,000 after purchasing an additional 323 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently commented on GEV. Weiss Ratings raised GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. The Goldman Sachs Group reissued a “buy” rating and issued a $1,328.00 price objective on shares of GE Vernova in a research note on Friday, April 24th. Sanford C. Bernstein initiated coverage on GE Vernova in a research report on Tuesday. They set an “outperform” rating and a $1,206.00 price objective for the company. Jefferies Financial Group lowered their target price on GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating on the stock in a research note on Thursday, June 11th. Finally, Barclays increased their price target on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,089.88.

GE Vernova Price Performance

Shares of GEV opened at $1,111.65 on Friday. The firm has a market cap of $298.72 billion, a PE ratio of 32.38, a PEG ratio of 4.11 and a beta of 1.23. The firm’s 50 day moving average price is $1,022.78 and its 200 day moving average price is $847.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. GE Vernova Inc. has a twelve month low of $479.04 and a twelve month high of $1,181.95.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping 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 company had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, research analysts expect that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

Insider Buying and Selling at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the 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 directly owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 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 transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

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.