Folger Nolan Fleming Douglas Capital Management Inc. Has $4.37 Million Stock Position in GE Vernova Inc. $GEV

Folger Nolan Fleming Douglas Capital Management Inc. boosted its stake in GE Vernova Inc. (NYSE:GEV) by 106.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,003 shares of the company’s stock after acquiring an additional 2,582 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in GE Vernova were worth $4,367,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cornerstone Financial Management LLC acquired a new position in shares of GE Vernova in the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC acquired a new stake in shares of GE Vernova during the third quarter worth $25,000. Torren Management LLC acquired a new stake in shares of GE Vernova during the fourth quarter worth $26,000. ORG Wealth Partners LLC increased its position in shares of GE Vernova by 241.7% during the fourth 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 period. Finally, Navalign LLC bought a new position in GE Vernova during the fourth quarter worth $27,000.

GE Vernova Stock Up 5.4%

GE Vernova stock opened at $1,101.11 on Tuesday. The company has a market capitalization of $295.89 billion, a PE ratio of 32.07, a PEG 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. The firm’s fifty day moving average is $1,033.60 and its 200 day moving average is $869.03. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period last year, the company posted $0.91 earnings per share. The business’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, sell-side analysts predict that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced 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. 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 currently 5.83%.

Insider Activity

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of 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. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Victor Abate sold 4,819 shares of the business’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 completion of the sale, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on GEV. Royal Bank Of Canada boosted their target price on shares of GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Susquehanna set a $1,300.00 price target on GE Vernova in a report on Thursday, April 23rd. Robert W. Baird lifted their price objective 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. Oppenheimer set a $1,303.00 price objective on GE Vernova in a research note on Thursday, April 23rd. Finally, Barclays upped their target price on GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average target price 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.