Ascentis Independent Advisors Boosts Stock Position in GE Vernova Inc. $GEV

Ascentis Independent Advisors raised its holdings in GE Vernova Inc. (NYSE:GEV) by 64.3% during the first quarter, Holdings Channel reports. The institutional investor owned 2,456 shares of the company’s stock after buying an additional 961 shares during the period. Ascentis Independent Advisors’ holdings in GE Vernova were worth $2,144,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GEV shares. Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and upped their price target for the company from $560.00 to $1,100.00 in a report 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. Weiss Ratings upgraded shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Citigroup upped their target price on shares of GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a report on Monday, April 13th. Finally, JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,089.88.

GE Vernova Stock Performance

NYSE GEV opened at $1,151.45 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a 52-week low of $511.50 and a 52-week high of $1,195.94. The business’s 50-day moving average price is $1,042.04 and its 200 day moving average price is $881.37. The firm has a market cap of $309.42 billion, a P/E ratio of 58.99, a P/E/G ratio of 4.11 and a beta of 1.09.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $15.49. The firm had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 EPS. On average, equities research analysts expect that GE Vernova Inc. will post 15.05 earnings per share 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 paid a $0.50 dividend. 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 (DPR) is 5.83%.

Insider Buying and Selling

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction that occurred 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 owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

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.