FNY Investment Advisers LLC Grows Position in GE Vernova Inc. $GEV

FNY Investment Advisers LLC raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 237.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 750 shares of the company’s stock after acquiring an additional 528 shares during the period. FNY Investment Advisers LLC’s holdings in GE Vernova were worth $881,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. World Investment Advisors raised its stake in shares of GE Vernova by 19.9% during the 4th quarter. World Investment Advisors now owns 13,497 shares of the company’s stock worth $8,821,000 after purchasing an additional 2,241 shares during the period. Merit Financial Group LLC boosted its holdings in shares of GE Vernova by 17.4% in the 4th quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock worth $9,856,000 after buying an additional 2,230 shares during the last quarter. Vest Financial LLC grew its position in GE Vernova by 56.7% during the fourth quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock valued at $43,260,000 after buying an additional 23,956 shares during the period. Riverbend Wealth Management LLC purchased a new stake in GE Vernova during the fourth quarter worth about $567,000. Finally, RiverFront Investment Group LLC increased its holdings in GE Vernova by 239.2% during the fourth quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock worth $1,432,000 after buying an additional 1,545 shares during the last quarter.

Insider Buying and Selling at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction on Monday, June 1st. The stock was 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 in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the sale, 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 position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GEV shares. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Monday. Royal Bank Of Canada boosted their target price on GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Argus set a $1,300.00 price target on GE Vernova in a research report on Monday, April 27th. Mizuho upped their price target on GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Oppenheimer increased their price target on 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. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,133.15.

GE Vernova Stock Performance

Shares of GEV stock opened at $998.35 on Friday. The firm’s 50 day moving average is $1,026.19 and its 200 day moving average is $944.87. The stock has a market capitalization of $265.89 billion, a P/E ratio of 28.57, a PEG ratio of 3.63 and a beta of 1.21. GE Vernova Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. During the same quarter in the prior year, the firm posted $1.86 earnings per share. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. On average, sell-side analysts anticipate that GE Vernova Inc. will post 15.57 earnings per share for the current year.

GE Vernova Dividend Announcement

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

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.