GE Vernova Inc. $GEV Stock Position Decreased by RVW Wealth LLC

RVW Wealth LLC decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 30.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,332 shares of the company’s stock after selling 1,005 shares during the period. RVW Wealth LLC’s holdings in GE Vernova were worth $2,740,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of GEV. Auto Owners Insurance Co grew its holdings in shares of GE Vernova by 110,973.4% during the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after purchasing an additional 34,826,773 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of GE Vernova by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock worth $16,354,691,000 after purchasing an additional 208,162 shares during the last quarter. State Street Corp boosted its position in GE Vernova by 2.1% during the 4th quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after purchasing an additional 231,392 shares during the period. Geode Capital Management LLC boosted its position in GE Vernova by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock valued at $4,074,039,000 after purchasing an additional 68,894 shares during the period. Finally, Morgan Stanley boosted its position in GE Vernova by 12.8% during the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock valued at $3,957,024,000 after purchasing an additional 685,466 shares during the period.

GE Vernova Trading Down 1.9%

Shares of GEV stock opened at $998.35 on Friday. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94. The firm has a market capitalization of $265.89 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 3.63 and a beta of 1.21. The stock has a fifty day moving average of $1,026.19 and a two-hundred day moving average of $944.87. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. GE Vernova’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.86 earnings per share. As a group, research analysts expect that GE Vernova Inc. will post 15.57 EPS for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Tuesday, June 16th. GE Vernova’s payout ratio is 5.72%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GEV. BNP Paribas Exane lowered GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price on the stock. in a research report on Monday, April 27th. Mizuho boosted their price target on shares of GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Vernova in a report on Tuesday, July 21st. Finally, Zacks Research downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,133.15.

Insider Buying and Selling

In other news, CEO Victor Abate sold 4,819 shares of the company’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 value of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the 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 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 $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

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.