Rehmann Capital Advisory Group Purchases 647 Shares of GE Vernova Inc. $GEV

Rehmann Capital Advisory Group raised its position in GE Vernova Inc. (NYSE:GEV) by 49.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,965 shares of the company’s stock after purchasing an additional 647 shares during the quarter. Rehmann Capital Advisory Group’s holdings in GE Vernova were worth $1,284,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GEV. US Bancorp DE grew its holdings in shares of GE Vernova by 2.2% in the 3rd quarter. US Bancorp DE now owns 100,542 shares of the company’s stock valued at $61,824,000 after acquiring an additional 2,163 shares in the last quarter. Varenne Capital Partners bought a new stake in GE Vernova during the third quarter worth about $4,872,000. Merit Financial Group LLC boosted its position in GE Vernova by 17.4% during the fourth quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock valued at $9,856,000 after purchasing an additional 2,230 shares during the last quarter. Stevens Capital Management LP boosted its position in GE Vernova by 56.0% during the third quarter. Stevens Capital Management LP now owns 3,640 shares of the company’s stock valued at $2,238,000 after purchasing an additional 1,307 shares during the last quarter. Finally, Vest Financial LLC grew its stake in GE Vernova by 56.7% in the fourth quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock valued at $43,260,000 after purchasing an additional 23,956 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GEV. Oppenheimer set a $1,303.00 price target on GE Vernova in a research report on Thursday, April 23rd. Barclays increased their price objective on GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Morgan Stanley boosted their target price on shares of GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. Jefferies Financial Group dropped their price target on shares of GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating on the stock in a research report on Thursday, June 11th. Finally, Erste Group Bank upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Tuesday, March 24th. Three 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. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,089.88.

GE Vernova Price Performance

NYSE:GEV opened at $1,111.65 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $1,022.78 and its two-hundred day moving average price is $847.85. The firm has a market capitalization of $298.72 billion, a price-to-earnings ratio of 32.38, a P/E/G ratio of 4.11 and a beta of 1.23. GE Vernova Inc. has a 12-month low of $479.04 and a 12-month high of $1,181.95.

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

GE Vernova Announces Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 5.83%.

Insiders Place Their Bets

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova 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 directly owned 3,549 shares of the company’s stock, valued at $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

GE Vernova Company 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.