Bank of Hawaii Takes Position in GE Vernova Inc. $GEV

Bank of Hawaii purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,379 shares of the company’s stock, valued at approximately $2,862,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jackson Grant Investment Advisers Inc. lifted its stake in shares of GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the period. Cornerstone Financial Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC acquired a new position in shares of GE Vernova during the 3rd quarter worth approximately $25,000. Torren Management LLC acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $26,000. Finally, ORG Wealth Partners LLC lifted its position in shares of GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after buying an additional 29 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Argus set a $1,300.00 price objective on shares of GE Vernova in a research report on Monday, April 27th. Guggenheim lifted their target price on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. JPMorgan Chase & Co. boosted their target price on shares of 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. BNP Paribas Exane downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target for the company. in a research report on Monday, April 27th. Finally, Erste Group Bank raised shares of GE Vernova to a “strong-buy” rating in a research note on Tuesday, March 24th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $1,089.88.

Insider Activity at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction 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 transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction 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 represents a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

GE Vernova Price Performance

GE Vernova stock opened at $1,111.65 on Friday. The company’s 50 day simple moving average is $1,022.78 and its 200-day simple moving average is $847.85. The company has a market capitalization of $298.72 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 4.11 and a beta of 1.23. GE Vernova Inc. has a 1 year low of $479.04 and a 1 year high of $1,181.95. 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 (NYSE:GEV) last posted its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $15.49. The firm had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.GE Vernova’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. As a group, equities research analysts expect that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently declared 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. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s payout ratio is 5.83%.

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.