Wick Capital Partners LLC Makes New $352,000 Investment in GE Vernova Inc. $GEV

Wick Capital Partners LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 538 shares of the company’s stock, valued at approximately $352,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new stake in shares of GE Vernova in the fourth quarter valued at $2,283,114,000. Northwestern Mutual Wealth Management Co. lifted its position in GE Vernova by 5,171.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after buying an additional 2,406,326 shares in the last quarter. Capital World Investors lifted its position in GE Vernova by 1,907.5% during the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after buying an additional 2,048,792 shares in the last quarter. Corient Private Wealth LLC grew its holdings in GE Vernova by 2,802.8% during the 4th quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock worth $1,051,407,000 after acquiring an additional 1,553,295 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in GE Vernova by 170.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company’s stock worth $722,956,000 after acquiring an additional 740,339 shares during the last quarter.

Insider Buying and Selling at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’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 transaction, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction 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 transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

GE Vernova Stock Up 0.2%

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

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. 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 firm posted $0.91 earnings per share. GE Vernova’s revenue for the quarter was up 17.0% compared to the same quarter last year. Equities analysts expect that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be issued 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 of this dividend is Tuesday, June 16th. GE Vernova’s payout ratio is currently 5.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of GE Vernova from $996.00 to $1,195.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Citigroup increased their price target on shares of GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Erste Group Bank raised shares of GE Vernova to a “strong-buy” rating in a report on Tuesday, March 24th. BMO Capital Markets boosted their price objective on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,328.00 price objective on shares of GE Vernova in a report on Friday, April 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,089.88.

GE Vernova 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.