Evexia Wealth LLC Makes New $8.33 Million Investment in GE Vernova Inc. $GEV

Evexia Wealth LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 9,547 shares of the company’s stock, valued at approximately $8,334,000. GE Vernova comprises approximately 2.3% of Evexia Wealth LLC’s portfolio, making the stock its 20th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in GEV. Balboa Wealth Partners acquired a new position in shares of GE Vernova in the 1st quarter valued at $264,000. Lincoln Capital Corp boosted its position in shares of GE Vernova by 9.5% in the 1st quarter. Lincoln Capital Corp now owns 404 shares of the company’s stock worth $353,000 after purchasing an additional 35 shares during the last quarter. Forbes J M & Co. LLP acquired a new stake in shares of GE Vernova during the first quarter worth $236,000. Sky Investment Group LLC grew its stake in shares of GE Vernova by 0.5% during the first quarter. Sky Investment Group LLC now owns 2,405 shares of the company’s stock worth $2,099,000 after purchasing an additional 12 shares during the period. Finally, Swisher Financial Concepts Inc. increased its holdings in GE Vernova by 3.6% in the first quarter. Swisher Financial Concepts Inc. now owns 1,353 shares of the company’s stock valued at $1,181,000 after purchasing an additional 47 shares during the last quarter.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $1,111.65 on Monday. The company has a market capitalization of $298.72 billion, a PE ratio of 32.38, a PEG ratio of 4.11 and a beta of 1.24. GE Vernova Inc. has a 12 month low of $479.04 and a 12 month high of $1,181.95. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The stock’s fifty day simple moving average is $1,022.78 and its 200 day simple moving average is $849.76.

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, beating analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. The company’s revenue was up 17.0% on a year-over-year basis. On average, research analysts predict 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. Stockholders 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 dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s payout ratio is 5.83%.

Insider Activity at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’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 transaction of $2,470,856.97. Following the sale, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% 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 currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GEV shares. Susquehanna set a $1,300.00 target price on GE Vernova in a research note on Thursday, April 23rd. Zacks Research cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Argus set a $1,300.00 target price on GE Vernova in a research report on Monday, April 27th. Citigroup upped their price target on GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.