GE Vernova Inc. $GEV Shares Bought by ARS Investment Partners LLC

ARS Investment Partners LLC raised its holdings in GE Vernova Inc. (NYSE:GEV) by 16.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 63,447 shares of the company’s stock after acquiring an additional 9,182 shares during the period. GE Vernova makes up approximately 2.9% of ARS Investment Partners LLC’s investment portfolio, making the stock its 9th largest position. ARS Investment Partners LLC’s holdings in GE Vernova were worth $55,383,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Torren Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter valued at approximately $26,000. Cornerstone Financial Management LLC purchased a new position in GE Vernova during the fourth quarter worth approximately $25,000. Jackson Grant Investment Advisers Inc. lifted its position in GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after buying an additional 31 shares in the last quarter. Wealth Watch Advisors INC acquired a new position in GE Vernova during the third quarter worth $25,000. Finally, ORG Wealth Partners LLC boosted its stake 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 buying an additional 29 shares during the last quarter.

Insiders Place Their Bets

In related news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. The trade was a 39.66% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on GEV. Morgan Stanley upped their target price on GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Susquehanna set a $1,300.00 price target on GE Vernova in a report on Thursday, April 23rd. Erste Group Bank raised shares of GE Vernova to a “strong-buy” rating in a research report on Tuesday, March 24th. Robert W. Baird upped their price objective on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Finally, Citigroup raised their price objective on shares of GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,089.88.

GE Vernova Trading Up 0.2%

GEV opened at $1,111.65 on Friday. The stock has a market capitalization of $298.72 billion, a PE ratio of 32.38, a P/E/G ratio of 4.11 and a beta of 1.23. GE Vernova Inc. has a one year low of $479.04 and a one year high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The business’s 50 day moving average price is $1,022.78 and its 200 day moving average price is $847.85.

GE Vernova (NYSE:GEV) last posted its earnings results 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 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 analysts’ expectations of $9.19 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, equities research analysts expect that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is currently 5.83%.

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.