Redwood Wealth Management Group LLC Has $378,000 Stock Holdings in GE Vernova Inc. $GEV

Redwood Wealth Management Group LLC trimmed its stake in shares of GE Vernova Inc. (NYSE:GEV) by 99.8% in the first quarter, Holdings Channel.com reports. The fund owned 433 shares of the company’s stock after selling 214,950 shares during the quarter. Redwood Wealth Management Group LLC’s holdings in GE Vernova were worth $378,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC boosted its holdings in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares during the last quarter. Schnieders Capital Management LLC. raised its holdings in GE Vernova by 1.7% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock worth $828,000 after purchasing an additional 26 shares during the last quarter. Jump Financial LLC bought a new position in GE Vernova during the 2nd quarter worth approximately $258,000. Ossiam acquired a new position in shares of GE Vernova in the 2nd quarter worth approximately $42,000. Finally, Nebula Research & Development LLC lifted its position in shares of GE Vernova by 23.9% in the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock worth $886,000 after purchasing an additional 323 shares during the period.

GE Vernova Stock Up 6.4%

Shares of NYSE:GEV opened at $1,172.73 on Wednesday. The business’s 50 day simple moving average is $1,037.02 and its two-hundred day simple moving average is $872.20. The firm has a market cap of $315.14 billion, a P/E ratio of 34.16, a PEG ratio of 4.09 and a beta of 1.23. 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 $482.20 and a 52-week high of $1,181.95.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS 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 firm had revenue of $9.34 billion during 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 company’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, research analysts forecast that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s payout ratio is 5.83%.

Insiders Place Their Bets

In other GE Vernova news, 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 transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’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 completion of the transaction, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. 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 equities research analysts have recently weighed in on the stock. Jefferies Financial Group decreased their price objective 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. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Erste Group Bank raised shares of GE Vernova to a “strong-buy” rating in a research report on Tuesday, March 24th. Oppenheimer set a $1,303.00 price target on GE Vernova in a report on Thursday, April 23rd. Finally, Susquehanna set a $1,300.00 price objective on GE Vernova in a research report on Thursday, April 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $1,089.88.

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.