Brown Advisory Inc. Reduces Stock Position in GE Vernova Inc. $GEV

Brown Advisory Inc. decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,110 shares of the company’s stock after selling 936 shares during the quarter. Brown Advisory Inc.’s holdings in GE Vernova were worth $23,601,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. RFG Advisory LLC grew its holdings in GE Vernova by 2.1% in the 4th quarter. RFG Advisory LLC now owns 634 shares of the company’s stock valued at $414,000 after buying an additional 13 shares during the period. BlackDiamond Wealth Management LLC grew its holdings in shares of GE Vernova by 2.8% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company’s stock worth $308,000 after purchasing an additional 13 shares during the period. Apriem Advisors grew its holdings in shares of GE Vernova by 0.7% during the 4th quarter. Apriem Advisors now owns 2,124 shares of the company’s stock worth $1,388,000 after purchasing an additional 14 shares during the period. Voisard Asset Management Group Inc. grew its holdings in shares of GE Vernova by 2.7% during the 4th quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company’s stock worth $376,000 after purchasing an additional 15 shares during the period. Finally, Clean Yield Group grew its holdings in shares of GE Vernova by 2.2% during the 4th quarter. Clean Yield Group now owns 685 shares of the company’s stock worth $448,000 after purchasing an additional 15 shares during the period.

GE Vernova Price Performance

Shares of NYSE GEV opened at $980.08 on Tuesday. GE Vernova Inc. has a twelve month low of $479.04 and a twelve month high of $1,181.95. 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 company has a market capitalization of $263.37 billion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 3.49 and a beta of 1.24. The business has a 50 day simple moving average of $1,010.48 and a 200-day simple moving average of $836.38.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating 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 business 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 business earned $0.91 EPS. The business’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, equities research analysts expect that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Insider Buying and Selling at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction on 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 owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Victor Abate sold 4,819 shares of the company’s 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 trade represents a 72.42% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GEV shares. BMO Capital Markets boosted their target price on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Susquehanna set a $1,300.00 target price on GE Vernova in a report on Thursday, April 23rd. TD Cowen boosted their price target on GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Oppenheimer set a $1,303.00 price target on GE Vernova in a research report on Thursday, April 23rd. Finally, Barclays boosted their price target 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. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $1,085.16.

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.