PVG Asset Management Corp Purchases 2,629 Shares of GE Vernova Inc. $GEV

PVG Asset Management Corp raised its position in GE Vernova Inc. (NYSE:GEV) by 345.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 3,389 shares of the company’s stock after acquiring an additional 2,629 shares during the period. GE Vernova comprises 2.1% of PVG Asset Management Corp’s portfolio, making the stock its 9th biggest position. PVG Asset Management Corp’s holdings in GE Vernova were worth $2,958,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Auto Owners Insurance Co raised its holdings in shares of GE Vernova by 110,973.4% in 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 purchasing an additional 34,826,773 shares during the last quarter. Vanguard Group Inc. grew its position in GE Vernova by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after purchasing an additional 208,162 shares in the last quarter. State Street Corp increased its stake in GE Vernova by 2.1% in the 4th quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after buying an additional 231,392 shares during the last quarter. Geode Capital Management LLC increased its stake in GE Vernova by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock valued at $4,074,039,000 after buying an additional 68,894 shares during the last quarter. Finally, Morgan Stanley increased its stake in GE Vernova by 12.8% in the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock valued at $3,957,024,000 after buying an additional 685,466 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GEV. Oppenheimer increased their price objective on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. increased their price target on GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada boosted their price target on GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. TD Cowen increased their price objective on GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, Citigroup raised 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 note on Monday, April 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $1,133.15.

GE Vernova Trading Up 0.0%

Shares of GE Vernova stock opened at $990.30 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The business has a fifty day simple moving average of $1,028.05 and a two-hundred day simple moving average of $934.82. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94. The company has a market capitalization of $263.75 billion, a price-to-earnings ratio of 28.34, a P/E/G ratio of 3.56 and a beta of 1.09.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. GE Vernova’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.86 earnings per share. Research analysts forecast that GE Vernova Inc. will post 15.46 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s payout ratio is presently 5.72%.

Insider Transactions at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated 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 owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction dated 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 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 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.