General American Investors Co. Inc. Lowers Stake in GE Vernova Inc. $GEV

General American Investors Co. Inc. decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 9.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,000 shares of the company’s stock after selling 9,000 shares during the quarter. GE Vernova accounts for about 5.2% of General American Investors Co. Inc.’s investment portfolio, making the stock its largest position. General American Investors Co. Inc.’s holdings in GE Vernova were worth $79,434,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC boosted its stake in shares of GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after acquiring an additional 13 shares during the last quarter. Torren Management LLC bought a new stake in shares of GE Vernova during the 4th quarter valued at $26,000. Cornerstone Financial Management LLC purchased a new stake in shares of GE Vernova in the 4th quarter worth $25,000. Wealth Watch Advisors INC purchased a new stake in shares of GE Vernova in the 3rd quarter worth $25,000. Finally, ORG Wealth Partners LLC raised its holdings in GE Vernova by 241.7% in the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after purchasing an additional 29 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GEV shares. 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 report on Monday, March 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,328.00 price objective on shares of GE Vernova in a research note on Friday, April 24th. Susquehanna set a $1,300.00 price objective on GE Vernova in a research report on Thursday, April 23rd. BNP Paribas Exane downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective for the company. in a research note on Monday, April 27th. Finally, Oppenheimer set a $1,303.00 target price on shares of GE Vernova in a report on Thursday, April 23rd. Three investment 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 MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $1,089.88.

Insider Activity at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were 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 $1,739,726.80. This trade represents a 72.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction that occurred on Thursday, May 14th. The shares were 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 approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

GE Vernova Price Performance

NYSE:GEV traded up $15.38 on Friday, reaching $1,090.64. 1,737,069 shares of the company’s stock traded hands, compared to its average volume of 2,887,361. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The stock has a 50-day simple moving average of $1,040.14 and a 200-day simple moving average of $895.32. The firm has a market cap of $293.08 billion, a PE ratio of 31.77, a P/E/G ratio of 4.03 and a beta of 1.09. 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 released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping 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 analyst estimates of $9.19 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities research analysts forecast that GE Vernova Inc. will post 15.06 earnings per share for the current year.

GE Vernova Dividend Announcement

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

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.