Alchemi Wealth LLC Invests $474,000 in GE Vernova Inc. $GEV

Alchemi Wealth LLC bought a new position in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, Holdings Channel.com reports. The fund bought 725 shares of the company’s stock, valued at approximately $474,000.

Several other large investors also recently bought and sold shares of the business. RFG Advisory LLC increased its position in GE Vernova by 2.1% in the fourth quarter. RFG Advisory LLC now owns 634 shares of the company’s stock worth $414,000 after purchasing an additional 13 shares during the last quarter. BlackDiamond Wealth Management LLC increased its position in GE Vernova by 2.8% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company’s stock worth $308,000 after purchasing an additional 13 shares during the last quarter. Voisard Asset Management Group Inc. increased its position in GE Vernova by 2.7% in the fourth quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company’s stock worth $376,000 after purchasing an additional 15 shares during the last quarter. Clean Yield Group increased its position in GE Vernova by 2.2% in the fourth quarter. Clean Yield Group now owns 685 shares of the company’s stock worth $448,000 after purchasing an additional 15 shares during the last quarter. Finally, Rossmore Private Capital increased its position in GE Vernova by 2.8% in the fourth quarter. Rossmore Private Capital now owns 559 shares of the company’s stock worth $365,000 after purchasing an additional 15 shares during the last quarter.

Insider Transactions at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’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 value of $2,470,856.97. Following the sale, 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 position. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

GE Vernova Price Performance

Shares of NYSE GEV opened at $940.14 on Friday. The firm’s 50 day simple moving average is $1,008.85 and its 200-day simple moving average is $831.73. GE Vernova Inc. has a 12 month low of $474.21 and a 12 month high of $1,181.95. The stock has a market capitalization of $252.63 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 3.36 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) 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 net margin of 23.81% and a return on equity of 43.97%. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 EPS. Analysts expect that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

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 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 of this dividend is Tuesday, June 16th. GE Vernova’s dividend payout ratio (DPR) is presently 5.83%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. BMO Capital Markets boosted their price objective on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. TD Cowen boosted their price objective on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Robert W. Baird boosted 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. Wells Fargo & Company boosted their price objective on shares of GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Finally, Erste Group Bank upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Tuesday, March 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,085.16.

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.