Ibex Wealth Advisors Grows Stock Holdings in GE Vernova Inc. $GEV

Ibex Wealth Advisors lifted its stake in GE Vernova Inc. (NYSE:GEV) by 122.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,513 shares of the company’s stock after purchasing an additional 5,786 shares during the quarter. Ibex Wealth Advisors’ holdings in GE Vernova were worth $9,177,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on GEV. Argus set a $1,300.00 price objective on shares of GE Vernova in a report on Monday, April 27th. Robert W. Baird increased their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Oppenheimer set a $1,303.00 target price on GE Vernova in a report on Thursday, April 23rd. Wells Fargo & Company boosted their price target on GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Finally, TD Cowen upped their price target on GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Three 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 data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average target price of $1,089.88.

Insider Buying and Selling

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction 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 sale, the chief accounting officer directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.

GE Vernova Stock Up 0.3%

GE Vernova stock opened at $1,073.77 on Friday. The stock has a market cap of $288.54 billion, a PE ratio of 31.28, a price-to-earnings-growth ratio of 3.95 and a beta of 1.09. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. GE Vernova Inc. has a one year low of $520.00 and a one year high of $1,195.94. The stock has a fifty day moving average of $1,039.56 and a 200 day moving average of $893.94.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $15.49. The business 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 business’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the firm posted $0.91 earnings per share. As a group, sell-side analysts predict that GE Vernova Inc. will post 15.05 EPS for the current year.

GE Vernova Dividend Announcement

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