Kingdom Financial Group LLC. Takes Position in GE Vernova Inc. $GEV

Kingdom Financial Group LLC. bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, Holdings Channel reports. The fund bought 485 shares of the company’s stock, valued at approximately $317,000.

Several other institutional investors and hedge funds have also bought and sold shares of GEV. Vanguard Group Inc. grew its position in shares of GE Vernova by 0.8% during the 4th 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 raised its position in shares of GE Vernova by 1.3% in the third quarter. State Street Corp now owns 11,238,278 shares of the company’s stock worth $6,910,417,000 after buying an additional 140,500 shares in the last quarter. Northern Trust Corp raised its position in shares of GE Vernova by 1.8% in the third quarter. Northern Trust Corp now owns 2,877,458 shares of the company’s stock worth $1,769,349,000 after buying an additional 51,738 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in GE Vernova by 5,171.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock valued at $1,603,114,000 after buying an additional 2,406,326 shares during the period. Finally, Invesco Ltd. boosted its stake in GE Vernova by 7.1% during the third quarter. Invesco Ltd. now owns 2,375,738 shares of the company’s stock valued at $1,460,841,000 after buying an additional 158,481 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GEV. BNP Paribas Exane lowered GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price on the stock. in a research note on Monday, April 27th. Wall Street Zen raised GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Argus set a $1,300.00 price objective on shares of GE Vernova in a research report on Monday, April 27th. Oppenheimer set a $1,303.00 target price on shares of GE Vernova in a research note on Thursday, April 23rd. Finally, Susquehanna set a $1,300.00 target price on shares of GE Vernova in a research report on Thursday, April 23rd. Two investment 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’s stock. Based on data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $1,090.76.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $1,045.50 on Friday. The stock’s 50-day moving average is $974.20 and its 200 day moving average is $788.53. The stock has a market cap of $280.95 billion, a price-to-earnings ratio of 30.45, a P/E/G ratio of 3.84 and a beta of 1.51. GE Vernova Inc. has a 1-year low of $448.45 and a 1-year high of $1,181.95. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19.

GE Vernova (NYSE:GEV) last issued 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. The business had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.GE Vernova’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. On average, sell-side analysts anticipate that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 5.83%.

Insider Buying and Selling

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by insiders.

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.