GE Vernova Inc. $GEV Shares Sold by Arax Advisory Partners

Arax Advisory Partners lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 77.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,677 shares of the company’s stock after selling 12,821 shares during the period. Arax Advisory Partners’ holdings in GE Vernova were worth $2,404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of GEV. Norges Bank purchased a new position in shares of GE Vernova in the 4th quarter valued at about $2,283,114,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of GE Vernova by 5,171.3% in 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 in the last quarter. Capital World Investors increased its stake in shares of GE Vernova by 1,907.5% in the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock valued at $1,325,842,000 after purchasing an additional 2,048,792 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of GE Vernova by 170.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company’s stock valued at $722,956,000 after purchasing an additional 740,339 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of GE Vernova by 12.8% in the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock valued at $3,957,024,000 after purchasing an additional 685,466 shares in the last quarter.

GE Vernova Price Performance

NYSE:GEV opened at $940.14 on Monday. GE Vernova Inc. has a 12 month low of $474.21 and a 12 month high of $1,181.95. The stock has a 50 day moving average of $1,008.85 and a two-hundred day moving average of $833.50. 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 firm has a market cap of $252.63 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 3.49 and a beta of 1.24.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same period in the previous year, the business earned $0.91 EPS. GE Vernova’s quarterly revenue was up 17.0% on a year-over-year basis. On average, analysts expect that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent analyst reports. Citigroup lifted their price target on GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Argus set a $1,300.00 price target on GE Vernova in a research note on Monday, April 27th. Oppenheimer set a $1,303.00 price target on GE Vernova in a research note on Thursday, April 23rd. Barclays lifted their price target on GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $1,328.00 price target on shares of GE Vernova in a research note on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,085.16.

Insider Buying and Selling

In other news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was 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 in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s 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 value of $2,470,856.97. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

GE Vernova Company 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.