Corient Private Wealth LLC Boosts Holdings in GE Vernova Inc. $GEV

Corient Private Wealth LLC increased its position in GE Vernova Inc. (NYSE:GEV) by 27.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 70,869 shares of the company’s stock after acquiring an additional 15,450 shares during the quarter. Corient Private Wealth LLC’s holdings in GE Vernova were worth $46,173,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GEV. Brighton Jones LLC increased its position in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares in the last quarter. Schnieders Capital Management LLC. lifted its position in GE Vernova by 1.7% in the 2nd 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 in the last quarter. Jump Financial LLC bought a new position in GE Vernova in the 2nd quarter valued at approximately $258,000. Ossiam purchased a new stake in GE Vernova during the 2nd quarter valued at $42,000. Finally, Nebula Research & Development LLC boosted its stake in GE Vernova by 23.9% during the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock valued at $886,000 after purchasing an additional 323 shares during the last quarter.

GE Vernova Price Performance

NYSE GEV opened at $1,111.65 on Monday. The stock has a market capitalization of $298.72 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 4.11 and a beta of 1.24. 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 current ratio of 0.89 and a quick ratio of 0.65. The business’s fifty day moving average price is $1,022.78 and its 200-day moving average price is $849.76.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping the consensus estimate of $1.95 by $15.49. The company had revenue of $9.34 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 earnings per share. On average, equities analysts predict 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 paid 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 is Tuesday, June 16th. GE Vernova’s payout ratio is currently 5.83%.

Insider Transactions at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The transaction 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 company’s stock in a transaction dated 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 sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent analyst reports. Weiss Ratings upgraded GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Royal Bank Of Canada increased their price objective on GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Erste Group Bank upgraded GE Vernova to a “strong-buy” rating in a report on Tuesday, March 24th. Robert W. Baird boosted their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Finally, Oppenheimer set a $1,303.00 target price on shares of GE Vernova in a research note on Thursday, April 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $1,089.88.

About GE Vernova

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.