GE Vernova Inc. $GEV Stake Lowered by General American Investors Co. Inc.

General American Investors Co. Inc. cut its position in shares of GE Vernova Inc. (NYSE:GEV) by 9.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,000 shares of the company’s stock after selling 9,000 shares during the period. GE Vernova makes up about 5.2% of General American Investors Co. Inc.’s portfolio, making the stock its biggest holding. General American Investors Co. Inc.’s holdings in GE Vernova were worth $79,434,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GEV. Cornerstone Financial Management LLC bought a new position in shares of GE Vernova during the 4th quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new position in shares of GE Vernova in the third quarter valued at $25,000. Torren Management LLC bought a new stake in GE Vernova in the fourth quarter worth $26,000. Manning & Napier Advisors LLC increased its position in GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after purchasing an additional 13 shares during the last quarter. Finally, ORG Wealth Partners LLC raised its stake in GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after purchasing an additional 29 shares in the last quarter.

Insider Activity

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’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 completion of the transaction, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Victor Abate sold 4,819 shares of the company’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 value 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. This represents a 72.42% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on GEV. Wells Fargo & Company increased their price objective on shares of GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Royal Bank Of Canada upped their target price on shares of GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Guggenheim increased their price target 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. BNP Paribas Exane lowered GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target for the company. in a research report on Monday, April 27th. Finally, Robert W. Baird boosted their price objective on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Three 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,089.88.

GE Vernova Trading Up 1.4%

GEV stock traded up $15.38 during mid-day trading on Friday, reaching $1,090.64. 1,737,069 shares of the stock traded hands, compared to its average volume of 2,887,361. 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 one year low of $530.16 and a one year high of $1,195.94. The stock has a market capitalization of $293.08 billion, a PE ratio of 31.77, a PEG ratio of 4.03 and a beta of 1.09. The business has a 50-day moving average price of $1,040.14 and a two-hundred day moving average price of $895.32.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter last year, the business earned $0.91 EPS. The business’s revenue was up 17.0% on a year-over-year basis. Equities research analysts expect 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. Shareholders of record on Tuesday, June 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. 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.