BlueSky Wealth Advisors LLC Makes New $429,000 Investment in GE Vernova Inc. $GEV

BlueSky Wealth Advisors LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 491 shares of the company’s stock, valued at approximately $429,000.

Other hedge funds also recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. lifted its holdings in GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares in the last quarter. Cornerstone Financial Management LLC purchased a new position in GE Vernova during the 4th quarter valued at about $25,000. Wealth Watch Advisors INC purchased a new position in GE Vernova during the 3rd quarter valued at about $25,000. Torren Management LLC bought a new stake in shares of GE Vernova during the fourth quarter valued at about $26,000. Finally, ORG Wealth Partners LLC increased its position in shares of GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after buying an additional 29 shares during the period.

Analyst Ratings Changes

A number of research firms have recently commented on GEV. Robert W. Baird raised 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 research report on Thursday, April 23rd. Erste Group Bank raised shares of GE Vernova to a “strong-buy” rating in a report on Tuesday, March 24th. Barclays increased their target price on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Wells Fargo & Company raised their price target on shares of GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Finally, Sanford C. Bernstein began coverage on shares of GE Vernova in a report on Tuesday. They issued an “outperform” rating and a $1,206.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,089.88.

GE Vernova Stock Performance

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

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) 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 firm had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter last year, the company posted $0.91 EPS. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, equities analysts predict that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders 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 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is presently 5.83%.

Insider Activity at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction 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. The trade was a 72.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

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.