GE Vernova Inc. $GEV Stock Holdings Cut by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. cut its position in shares of GE Vernova Inc. (NYSE:GEV) by 2.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 37,661 shares of the company’s stock after selling 1,138 shares during the quarter. GE Vernova accounts for 1.1% of Braun Stacey Associates Inc.’s portfolio, making the stock its 27th largest position. Braun Stacey Associates Inc.’s holdings in GE Vernova were worth $32,874,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GEV. Auto Owners Insurance Co raised its position in GE Vernova by 110,973.4% in the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after acquiring an additional 34,826,773 shares in the last quarter. Vanguard Group Inc. lifted its holdings in GE Vernova by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after acquiring an additional 208,162 shares during the last quarter. State Street Corp boosted its position in shares of GE Vernova by 2.1% during the 4th quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after purchasing an additional 231,392 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of GE Vernova by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock valued at $4,074,039,000 after purchasing an additional 68,894 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of GE Vernova by 12.8% in the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock worth $3,957,024,000 after purchasing an additional 685,466 shares during the last quarter.

Insider Activity at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the 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 completion of the sale, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. 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 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 position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on GEV shares. Sanford C. Bernstein assumed coverage on shares of GE Vernova in a report on Tuesday, June 16th. They issued an “outperform” rating and a $1,206.00 target price on the stock. Oppenheimer set a $1,303.00 target price on shares of GE Vernova in a report on Thursday, April 23rd. Jefferies Financial Group decreased their price target on shares of GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating on the stock in a research report on Thursday, June 11th. Morgan Stanley upped their price target on GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Finally, BMO Capital Markets increased their price objective on GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. 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. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $1,089.88.

GE Vernova Price Performance

GEV stock opened at $1,045.74 on Friday. 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 one year low of $482.20 and a one year high of $1,181.95. The firm has a market capitalization of $281.01 billion, a PE ratio of 30.46, a P/E/G ratio of 3.87 and a beta of 1.23. The firm has a 50-day moving average of $1,031.16 and a two-hundred day moving average of $863.97.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period last year, the company posted $0.91 earnings per share. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend 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 currently 5.83%.

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.