Castleark Management LLC Grows Stock Position in GE Vernova Inc. $GEV

Castleark Management LLC boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,741 shares of the company’s stock after acquiring an additional 1,168 shares during the quarter. GE Vernova comprises approximately 0.9% of Castleark Management LLC’s portfolio, making the stock its 25th biggest holding. Castleark Management LLC’s holdings in GE Vernova were worth $31,202,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Brighton Jones LLC increased its position in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares in the last quarter. Schnieders Capital Management LLC. boosted its stake in shares of GE Vernova by 1.7% during the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after acquiring an additional 26 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of GE Vernova during the second quarter valued at $258,000. Ossiam acquired a new stake in shares of GE Vernova during the second quarter valued at $42,000. Finally, Nebula Research & Development LLC boosted its stake in shares of GE Vernova by 23.9% during the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock valued at $886,000 after acquiring an additional 323 shares during the last quarter.

Insider Activity at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova 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 sale, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. The trade was a 39.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by insiders.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $940.14 on Friday. The company has a market cap of $252.63 billion, a P/E 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 quick ratio of 0.65 and a current ratio of 0.89. GE Vernova Inc. has a one year low of $474.21 and a one year high of $1,181.95. The business’s 50-day simple moving average is $1,008.85 and its 200 day simple moving average is $831.73.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating the consensus estimate of $1.95 by $15.49. The business had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company’s revenue was up 17.0% on a year-over-year basis. During the same period last year, the business posted $0.91 EPS. On average, sell-side analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

Analyst Ratings Changes

GEV has been the topic of a number of research analyst reports. Weiss Ratings raised GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Jefferies Financial Group decreased their price target 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. Morgan Stanley raised their price target on GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. Erste Group Bank raised GE Vernova to a “strong-buy” rating in a research note on Tuesday, March 24th. Finally, JPMorgan Chase & Co. raised their price target on GE Vernova from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Two 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.