Carnegie Investment Counsel Reduces Position in GE Vernova Inc. $GEV

Carnegie Investment Counsel trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 2.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,725 shares of the company’s stock after selling 683 shares during the period. Carnegie Investment Counsel’s holdings in GE Vernova were worth $25,947,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cornerstone Financial Management LLC acquired a new stake in GE Vernova in the 4th quarter valued at about $25,000. Wealth Watch Advisors INC acquired a new stake in shares of GE Vernova in the third quarter valued at approximately $25,000. Torren Management LLC purchased a new position in GE Vernova during the fourth quarter worth approximately $26,000. Manning & Napier Advisors LLC boosted its stake in GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after buying an additional 13 shares during the last quarter. Finally, ORG Wealth Partners LLC grew its holdings in 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 buying an additional 29 shares in the last quarter.

Insider Buying and Selling at GE Vernova

In related 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 transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GEV shares. BMO Capital Markets increased their price target on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Guggenheim boosted their price objective on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Royal Bank Of Canada boosted their target price on GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Barclays lifted their price objective on GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Finally, Morgan Stanley boosted their price objective on GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,089.88.

GE Vernova Stock Up 1.4%

Shares of GE Vernova stock traded up $15.38 on Friday, reaching $1,090.64. 1,737,069 shares of the company were exchanged, compared to its average volume of 2,887,361. The stock’s 50 day moving average price is $1,040.14 and its 200-day moving average price is $895.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. GE Vernova Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94. The company has a market cap of $293.08 billion, a P/E ratio of 31.77, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

GE Vernova (NYSE:GEV) last issued its earnings results 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. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the company earned $0.91 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. As a group, equities analysts forecast that GE Vernova Inc. will post 15.06 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s dividend payout ratio (DPR) is presently 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.