Evolve Private Wealth LLC Buys 946 Shares of GE Vernova Inc. $GEV

Evolve Private Wealth LLC lifted its stake in GE Vernova Inc. (NYSE:GEVFree Report) by 43.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,115 shares of the company’s stock after buying an additional 946 shares during the period. Evolve Private Wealth LLC’s holdings in GE Vernova were worth $2,719,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Torren Management LLC bought a new stake in GE Vernova in the fourth quarter valued at $26,000. Cornerstone Financial Management LLC bought a new position in shares of GE Vernova during the fourth quarter valued at $25,000. Wealth Watch Advisors INC acquired a new stake in shares of GE Vernova in the 3rd quarter valued at $25,000. ORG Wealth Partners LLC boosted its stake in shares of GE Vernova by 241.7% in the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after purchasing an additional 29 shares in the last quarter. Finally, Navalign LLC bought a new stake in shares of GE Vernova in the 4th quarter worth about $27,000.

Key GE Vernova News

Here are the key news stories impacting GE Vernova this week:

GE Vernova Price Performance

Shares of GEV stock opened at $1,125.62 on Tuesday. GE Vernova Inc. has a 12 month low of $479.04 and a 12 month high of $1,181.95. The stock has a 50-day moving average price of $1,025.92 and a 200 day moving average price of $853.45. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The firm has a market cap of $302.48 billion, a price-to-earnings ratio of 32.79, a PEG ratio of 4.11 and a beta of 1.24.

GE Vernova (NYSE:GEVGet Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. The business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. GE Vernova’s revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 earnings per share. Research analysts expect that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

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 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 yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 5.83%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GEV. Guggenheim increased their target price on shares of GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Susquehanna set a $1,300.00 price target on shares of GE Vernova in a research report on Thursday, April 23rd. Morgan Stanley upped their price objective on shares of GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. TD Cowen raised their price objective on shares of GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Finally, Rothschild & Co Redburn upgraded shares of GE Vernova from a “sell” rating to a “buy” rating and lifted their target price for the company from $560.00 to $1,100.00 in a research note on Monday, March 9th. Three investment 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,089.88.

Read Our Latest Research Report on GE Vernova

Insider Transactions at GE Vernova

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

GE Vernova Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for GE Vernova (NYSE:GEV)

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