Physicians Financial Services Inc. Grows Stock Holdings in GE Vernova Inc. $GEV

Physicians Financial Services Inc. boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 23.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,678 shares of the company’s stock after purchasing an additional 512 shares during the period. Physicians Financial Services Inc.’s holdings in GE Vernova were worth $2,338,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GEV. Aspen Investment Management Inc lifted its holdings in shares of GE Vernova by 25.8% during the 1st quarter. Aspen Investment Management Inc now owns 658 shares of the company’s stock valued at $574,000 after buying an additional 135 shares during the period. Old North State Trust LLC bought a new stake in shares of GE Vernova in the fourth quarter worth $384,000. Purpose Unlimited Inc. bought a new stake in shares of GE Vernova in the fourth quarter worth $523,000. Rockefeller Capital Management L.P. grew its holdings in shares of GE Vernova by 16.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 357,577 shares of the company’s stock worth $233,703,000 after acquiring an additional 50,236 shares during the period. Finally, Osbon Capital Management LLC purchased a new stake in GE Vernova during the fourth quarter valued at $69,000.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Sanford C. Bernstein assumed coverage on GE Vernova in a research note on Tuesday. They set an “outperform” rating and a $1,206.00 price target for the company. Weiss Ratings raised shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Barclays increased their price objective on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Finally, Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a report on Thursday, April 23rd. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,089.88.

GE Vernova Stock Performance

Shares of GEV opened at $1,111.65 on Friday. The business has a 50-day simple moving average of $1,022.78 and a two-hundred day simple moving average of $847.85. 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 52 week low of $479.04 and a 52 week high of $1,181.95. The stock has a market cap of $298.72 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 4.11 and a beta of 1.23.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 43.97% and a net margin of 23.81%.The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. On average, analysts expect that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. 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 (DPR) is presently 5.83%.

Insider Buying and Selling

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova 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 $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. The trade was a 39.66% 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 company insiders.

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.