Matthew Joseph Potvin Sells 2,333 Shares of GE Vernova (NYSE:GEV) Stock

GE Vernova Inc. (NYSE:GEVGet Free Report) CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

GE Vernova Stock Performance

Shares of GEV stock opened at $1,010.87 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average price of $966.16 and a 200 day moving average price of $782.12. The company has a market cap of $271.64 billion, a P/E ratio of 29.45, a PEG ratio of 3.79 and a beta of 1.51. GE Vernova Inc. has a 12 month low of $442.56 and a 12 month high of $1,181.95.

GE Vernova (NYSE:GEVGet Free Report) last released its quarterly earnings data 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. 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 the consensus estimate of $9.19 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. GE Vernova’s revenue for the quarter was up 17.0% on a year-over-year basis. Sell-side analysts predict that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

Several hedge funds have recently made changes to their positions in the business. Western Wealth Management LLC boosted its stake in shares of GE Vernova by 21.6% during the first quarter. Western Wealth Management LLC now owns 5,615 shares of the company’s stock worth $4,901,000 after buying an additional 996 shares during the period. Silicon Valley Capital Partners boosted its stake in shares of GE Vernova by 98.0% during the first quarter. Silicon Valley Capital Partners now owns 404 shares of the company’s stock worth $353,000 after buying an additional 200 shares during the period. Paragon Private Wealth Management LLC boosted its stake in shares of GE Vernova by 3.6% during the first quarter. Paragon Private Wealth Management LLC now owns 464 shares of the company’s stock worth $405,000 after buying an additional 16 shares during the period. Bank of America Corp DE boosted its stake in shares of GE Vernova by 20.1% during the first quarter. Bank of America Corp DE now owns 2,598,178 shares of the company’s stock worth $2,267,949,000 after buying an additional 435,405 shares during the period. Finally, Genesis Financial Group LLC boosted its stake in shares of GE Vernova by 456.4% during the first quarter. Genesis Financial Group LLC now owns 8,719 shares of the company’s stock worth $7,611,000 after buying an additional 7,152 shares during the period.

Analysts Set New Price Targets

Several equities analysts have issued reports on GEV shares. Morgan Stanley upped their price objective on shares of GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. Argus set a $1,300.00 price objective on shares of GE Vernova in a research note on Monday, April 27th. Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a research note on Thursday, April 23rd. Royal Bank Of Canada upped their price objective on shares of GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Finally, Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a research note on Thursday, April 23rd. Two equities research 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’s stock. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,090.76.

View Our Latest Stock Analysis on GEV

GE Vernova News Roundup

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About GE Vernova

(Get Free Report)

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.

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