Purpose Unlimited Inc. Makes New Investment in GE Vernova Inc. $GEV

Purpose Unlimited Inc. purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 800 shares of the company’s stock, valued at approximately $523,000.

A number of other institutional investors have also modified their holdings of GEV. Cornerstone Financial Management LLC bought a new position in shares of GE Vernova during the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova in the 3rd quarter worth approximately $25,000. Torren Management LLC acquired a new position in GE Vernova during the 4th quarter valued at approximately $26,000. ORG Wealth Partners LLC grew its stake in GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after buying an additional 29 shares during the last quarter. Finally, Navalign LLC acquired a new stake in GE Vernova in the fourth quarter worth $27,000.

GE Vernova Trading Up 0.2%

Shares of NYSE:GEV opened at $1,111.65 on Monday. The company has a 50 day moving average of $1,022.78 and a 200-day moving average of $849.76. 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 firm has a market cap of $298.72 billion, a P/E ratio of 32.38, a P/E/G ratio of 4.11 and a beta of 1.24. GE Vernova Inc. has a twelve month low of $479.04 and a twelve month high of $1,181.95.

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

GE Vernova Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction 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 completion of 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. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the transaction, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This represents a 39.66% decrease in their position. 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 research analysts have commented on the stock. Argus set a $1,300.00 target price on shares of GE Vernova in a research report on Monday, April 27th. BNP Paribas Exane lowered GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective for the company. in a report on Monday, April 27th. Oppenheimer set a $1,303.00 target price on GE Vernova in a research report on Thursday, April 23rd. Susquehanna set a $1,300.00 target price on GE Vernova in a research note on Thursday, April 23rd. Finally, Guggenheim boosted their price target on GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research report 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. According to data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $1,089.88.

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.