GE Vernova Inc. $GEV Position Increased by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 32.4% in the first quarter, HoldingsChannel reports. The firm owned 43,087 shares of the company’s stock after purchasing an additional 10,550 shares during the quarter. Apollon Wealth Management LLC’s holdings in GE Vernova were worth $37,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Auto Owners Insurance Co lifted its stake in GE Vernova by 110,973.4% in the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after buying an additional 34,826,773 shares during the last quarter. Norges Bank acquired a new position in GE Vernova during the 4th quarter valued at about $2,283,114,000. Northwestern Mutual Wealth Management Co. boosted its stake in GE Vernova by 5,171.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock valued at $1,603,114,000 after purchasing an additional 2,406,326 shares during the period. Capital World Investors grew its position in GE Vernova by 1,907.5% in the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after purchasing an additional 2,048,792 shares during the last quarter. Finally, Corient Private Wealth LLC grew its position in GE Vernova by 2,802.8% in the 4th quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock worth $1,051,407,000 after purchasing an additional 1,553,295 shares during the last quarter.

Insiders Place Their Bets

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This represents a 72.42% 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.

GE Vernova Trading Up 0.1%

GE Vernova stock opened at $1,045.74 on Monday. The firm has a 50 day simple moving average of $1,031.16 and a 200-day simple moving average of $865.68. 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 stock has a market capitalization of $281.01 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 3.87 and a beta of 1.24. GE Vernova Inc. has a 12-month low of $482.20 and a 12-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. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter last year, the business earned $0.91 earnings per share. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, equities research analysts expect that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 5.83%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GEV shares. BNP Paribas Exane cut GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target on the stock. in a report on Monday, April 27th. Citigroup increased their price objective on GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. TD Cowen raised their target price on GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Morgan Stanley lifted their target price on GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. Finally, Weiss Ratings upgraded GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Three investment 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 stock. According to 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.