Diversify Wealth Management LLC Grows Stock Position in GE Vernova Inc. $GEV

Diversify Wealth Management LLC boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 63.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,683 shares of the company’s stock after buying an additional 3,374 shares during the period. Diversify Wealth Management LLC’s holdings in GE Vernova were worth $7,579,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GEV. Manning & Napier Advisors LLC lifted its holdings 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 period. Torren Management LLC acquired a new stake in shares of GE Vernova in the fourth quarter worth approximately $26,000. Cornerstone Financial Management LLC purchased a new stake in GE Vernova in the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new stake in GE Vernova in the third quarter valued at approximately $25,000. Finally, ORG Wealth Partners LLC increased its position in 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 purchasing an additional 29 shares during the last quarter.

GE Vernova Trading Down 0.1%

NYSE GEV opened at $1,090.64 on Monday. The firm has a market capitalization of $293.08 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 4.03 and a beta of 1.09. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94. The company’s 50 day moving average price is $1,040.14 and its 200 day moving average price is $896.97.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. GE Vernova’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, sell-side analysts predict that GE Vernova Inc. will post 15.06 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be issued 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 payout ratio is presently 5.83%.

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 transaction 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 approximately $3,758,710.41. This represents a 39.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction on 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 owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This 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 currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GEV shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,328.00 price target on shares of GE Vernova in a research note on Friday, April 24th. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Weiss Ratings upgraded GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Barclays increased their target price on GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Finally, Susquehanna set a $1,300.00 target price on GE Vernova in a 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 given a Hold rating to the company’s stock. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target 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.