Worth Asset Management LLC Has $1.04 Million Holdings in GE Vernova Inc. $GEV

Worth Asset Management LLC lessened its position in shares of GE Vernova Inc. (NYSE:GEV) by 65.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 882 shares of the company’s stock after selling 1,691 shares during the period. Worth Asset Management LLC’s holdings in GE Vernova were worth $1,036,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of GEV. MRA Advisory Group bought a new stake in GE Vernova during the second quarter valued at $1,032,000. Gradient Investments LLC acquired a new stake in GE Vernova during the 2nd quarter worth about $210,000. Atwood & Palmer Inc. raised its position in shares of GE Vernova by 11.1% in the 2nd quarter. Atwood & Palmer Inc. now owns 260 shares of the company’s stock worth $306,000 after acquiring an additional 26 shares in the last quarter. Rockland Trust Co. raised its position in shares of GE Vernova by 32.2% in the 2nd quarter. Rockland Trust Co. now owns 702 shares of the company’s stock worth $825,000 after acquiring an additional 171 shares in the last quarter. Finally, Chesley Taft & Associates LLC raised its position in shares of GE Vernova by 2.5% in the 2nd quarter. Chesley Taft & Associates LLC now owns 6,864 shares of the company’s stock worth $8,064,000 after acquiring an additional 169 shares in the last quarter.

GE Vernova Price Performance

GEV stock opened at $990.15 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The company’s 50-day moving average is $1,026.62 and its 200-day moving average is $945.18. The stock has a market capitalization of $263.71 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 3.57 and a beta of 1.21. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94.

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

GE Vernova Announces Dividend

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

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 stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This represents 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 this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on GEV. TD Cowen upped their target price on GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Vernova in a report on Tuesday, July 21st. Royal Bank Of Canada lifted their target price on GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Susquehanna set a $1,300.00 price target on GE Vernova in a research note on Thursday, April 23rd. Finally, JPMorgan Chase & Co. increased their price target on GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $1,133.15.

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.