Sit Investment Associates Inc. Has $3.69 Million Stock Holdings in GE Vernova Inc. $GEV

Sit Investment Associates Inc. decreased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 8.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,639 shares of the company’s stock after selling 531 shares during the period. Sit Investment Associates Inc.’s holdings in GE Vernova were worth $3,685,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of GEV. Torren Management LLC acquired a new stake in GE Vernova during the fourth quarter worth approximately $26,000. Cornerstone Financial Management LLC acquired a new position in shares of GE Vernova in the fourth quarter valued at approximately $25,000. Jackson Grant Investment Advisers Inc. increased its stake in shares of GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the period. Wealth Watch Advisors INC bought a new position in shares of GE Vernova during the third quarter worth approximately $25,000. Finally, ORG Wealth Partners LLC lifted its holdings in GE Vernova by 241.7% during the 4th 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.

Analyst Upgrades and Downgrades

GEV has been the subject of several recent research reports. Sanford C. Bernstein started coverage on GE Vernova in a research note on Tuesday. They issued an “outperform” rating and a $1,206.00 price target for the company. BMO Capital Markets increased their price objective on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. BNP Paribas Exane downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price for the company. in a report on Monday, April 27th. Citigroup boosted their target price on shares of GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $1,328.00 price target on shares of GE Vernova in a research note on Friday, April 24th. Three 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 stock. Based on data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average target price of $1,089.88.

Insider Transactions at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of GE Vernova 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 sale, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’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 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 represents a 39.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by corporate insiders.

GE Vernova Price Performance

GE Vernova stock opened at $1,111.65 on Friday. 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 52 week low of $479.04 and a 52 week high of $1,181.95. The stock has a market capitalization of $298.72 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 4.11 and a beta of 1.23. The stock has a fifty day moving average of $1,022.78 and a 200-day moving average of $847.85.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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 return on equity of 43.97% and a net margin of 23.81%.The business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period last year, the firm posted $0.91 earnings per share. GE Vernova’s revenue was up 17.0% compared to the same quarter last year. On average, sell-side analysts expect that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is 5.83%.

About GE Vernova

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.