SHP Wealth Management Takes Position in GE Vernova Inc. $GEV

SHP Wealth Management acquired 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 and Exchange Commission. The institutional investor acquired 495 shares of the company’s stock, valued at approximately $324,000.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GEV shares. Rothschild & Co Redburn upgraded GE Vernova from a “sell” rating to a “buy” rating and increased their price target for the company from $560.00 to $1,100.00 in a research note on Monday, March 9th. The Goldman Sachs Group restated a “buy” rating and set a $1,328.00 price objective on shares of GE Vernova in a research report on Friday, April 24th. Jefferies Financial Group lowered 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. Wells Fargo & Company lifted their price target on GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Finally, BMO Capital Markets boosted their price target 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. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,089.88.

GE Vernova Stock Performance

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

GE Vernova (NYSE:GEV) last released its 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. The business had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 EPS. As a group, research analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be issued a $0.50 dividend. 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 Buying and Selling at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the stock in a transaction dated Monday, June 1st. The stock was 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 approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction dated 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 transaction, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.

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.