Advisors Management Group Inc. ADV Sells 888 Shares of GE Vernova Inc. $GEV

Advisors Management Group Inc. ADV lowered its stake in shares of GE Vernova Inc. (NYSE:GEV) by 21.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,188 shares of the company’s stock after selling 888 shares during the period. Advisors Management Group Inc. ADV’s holdings in GE Vernova were worth $2,782,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GEV. Cornerstone Financial Management LLC bought a new stake in shares of GE Vernova during the 4th quarter valued at $25,000. Wealth Watch Advisors INC bought a new position in GE Vernova in the 3rd quarter worth about $25,000. Torren Management LLC purchased a new position in GE Vernova during the 4th quarter valued at about $26,000. Manning & Napier Advisors LLC grew its holdings in GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after buying an additional 13 shares in the last quarter. Finally, 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 valued at $27,000 after buying an additional 29 shares during the period.

Insiders Place Their Bets

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

GE Vernova Stock Performance

Shares of GEV opened at $1,090.64 on Friday. The company has a market cap of $293.08 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 3.97 and a beta of 1.09. 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 has a 50-day moving average price of $1,040.14 and a 200-day moving average price of $895.32. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping the consensus estimate of $1.95 by $15.49. The company had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. GE Vernova’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 earnings per share. As a group, equities analysts forecast that GE Vernova Inc. will post 15.06 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Guggenheim boosted their price objective on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada upped their target price on shares of GE Vernova from $996.00 to $1,195.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Erste Group Bank upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Tuesday, March 24th. Finally, Weiss Ratings raised shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Three equities 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 stock. According to data from MarketBeat, GE Vernova currently 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.