Caliber Wealth Management LLC KS Decreases Holdings in GE Vernova Inc. $GEV

Caliber Wealth Management LLC KS reduced its stake in GE Vernova Inc. (NYSE:GEV) by 21.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,729 shares of the company’s stock after selling 736 shares during the period. Caliber Wealth Management LLC KS’s holdings in GE Vernova were worth $2,383,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GEV. Onyx Bridge Wealth Group LLC boosted its position in shares of GE Vernova by 1.3% in the first quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock worth $635,000 after buying an additional 9 shares during the period. Red Door Wealth Management LLC raised its holdings in shares of GE Vernova by 0.6% during the 1st quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock valued at $1,548,000 after buying an additional 10 shares during the period. Bell Investment Advisors Inc raised its holdings in shares of GE Vernova by 5.2% during the 1st quarter. Bell Investment Advisors Inc now owns 221 shares of the company’s stock valued at $193,000 after buying an additional 11 shares during the period. Sky Investment Group LLC raised its holdings in shares of GE Vernova by 0.5% during the 1st quarter. Sky Investment Group LLC now owns 2,405 shares of the company’s stock valued at $2,099,000 after buying an additional 12 shares during the period. Finally, Hilton Head Capital Partners LLC lifted its position in GE Vernova by 2.6% during the 1st quarter. Hilton Head Capital Partners LLC now owns 476 shares of the company’s stock worth $416,000 after acquiring an additional 12 shares in the last quarter.

Wall Street Analyst Weigh In

GEV has been the subject of a number of analyst reports. Erste Group Bank upgraded GE Vernova to a “strong-buy” rating in a report on Tuesday, March 24th. Rothschild & Co Redburn upgraded shares of GE Vernova from a “sell” rating to a “buy” rating and lifted their price objective for the company from $560.00 to $1,100.00 in a research note on Monday, March 9th. Jefferies Financial Group reduced their target price 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. Guggenheim upped their target price on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday. Three equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,089.88.

Insider Activity at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the sale, the chief accounting officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction on 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 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. Corporate insiders own 0.21% of the company’s stock.

GE Vernova Trading Up 5.4%

NYSE:GEV opened at $1,101.11 on Tuesday. The stock has a market cap of $295.89 billion, a price-to-earnings ratio of 32.07, a price-to-earnings-growth ratio of 3.87 and a beta of 1.24. GE Vernova Inc. has a one year low of $482.20 and a one year high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The business’s 50-day simple moving average is $1,033.60 and its 200 day simple moving average is $869.03.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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. 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 analyst estimates of $9.19 billion. During the same quarter last year, the firm earned $0.91 EPS. GE Vernova’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, sell-side analysts predict that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s dividend payout ratio is 5.83%.

GE Vernova Company 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.