Employees Provident Fund Board Purchases Shares of 10,500 GE Vernova Inc. $GEV

Employees Provident Fund Board purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,500 shares of the company’s stock, valued at approximately $6,862,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GEV. Brighton Jones LLC lifted its position in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after purchasing an additional 753 shares in the last quarter. Schnieders Capital Management LLC. grew its stake in shares of GE Vernova by 1.7% in the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock worth $828,000 after acquiring an additional 26 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of GE Vernova during the second quarter worth $258,000. Ossiam purchased a new stake in shares of GE Vernova during the second quarter worth $42,000. Finally, Nebula Research & Development LLC raised its stake in shares of GE Vernova by 23.9% in the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock valued at $886,000 after acquiring an additional 323 shares in the last quarter.

GE Vernova Trading Up 0.2%

Shares of GE Vernova stock opened at $1,111.65 on Friday. The company has a fifty day simple moving average of $1,022.78 and a 200-day simple moving average of $847.85. GE Vernova Inc. has a 12-month low of $479.04 and a 12-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 stock has a market cap of $298.72 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 4.11 and a beta of 1.23.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results 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 net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period last year, the business earned $0.91 EPS. GE Vernova’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, equities analysts forecast that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.50 per share. The ex-dividend date 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 (DPR) is 5.83%.

Insiders Place Their Bets

In related news, 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 in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction on Thursday, May 14th. The stock was 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 of the company’s stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent research reports. Jefferies Financial Group decreased their target price on GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating for the company in a report on Thursday, June 11th. Oppenheimer set a $1,303.00 price target on shares of GE Vernova in a research note on Thursday, April 23rd. JPMorgan Chase & Co. boosted their price target on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Morgan Stanley increased their price objective on shares of GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. Finally, Argus set a $1,300.00 price objective on shares of GE Vernova in a research report on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,089.88.

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.