1,381 Shares in GE Vernova Inc. $GEV Acquired by Nalls Sherbakoff Group LLC

Nalls Sherbakoff Group LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,381 shares of the company’s stock, valued at approximately $903,000.

Other large investors also recently added to or reduced their stakes in the company. DUTCH ASSET Corp purchased a new stake in shares of GE Vernova in the fourth quarter valued at $680,000. Corient Private Wealth LLC boosted its position in shares of GE Vernova by 27.9% in the fourth quarter. Corient Private Wealth LLC now owns 70,869 shares of the company’s stock worth $46,173,000 after buying an additional 15,450 shares during the period. Auto Owners Insurance Co grew its holdings in shares of GE Vernova by 110,973.4% during the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after buying an additional 34,826,773 shares in the last quarter. Lifetime Wealth Management P.C. purchased a new position in shares of GE Vernova during the fourth quarter valued at $43,000. Finally, Union Savings Bank acquired a new position in GE Vernova during the fourth quarter valued at $540,000.

Insider Activity at GE Vernova

In related 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction 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. The trade was a 72.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GEV. Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and increased their price objective for the stock from $560.00 to $1,100.00 in a research note on Monday, March 9th. Royal Bank Of Canada lifted their target price on GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Weiss Ratings upgraded GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Jefferies Financial Group reduced their price target on shares of GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating for the company in a research report on Thursday, June 11th. Finally, BNP Paribas Exane cut shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target for the company. in a report on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,089.88.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $1,111.65 on Friday. The firm has a market cap of $298.72 billion, a price-to-earnings ratio of 32.38, a P/E/G ratio of 4.11 and a beta of 1.23. GE Vernova Inc. has a 1 year low of $479.04 and a 1 year high of $1,181.95. 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 business has a fifty day simple moving average of $1,022.78 and a 200 day simple moving average of $847.85.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS 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 for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be issued 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 payout ratio is currently 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.