GE Vernova Inc. $GEV Shares Acquired by SIR Capital Management L.P.

SIR Capital Management L.P. lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 130.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,500 shares of the company’s stock after acquiring an additional 6,500 shares during the quarter. SIR Capital Management L.P.’s holdings in GE Vernova were worth $7,516,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GEV. Jackson Grant Investment Advisers Inc. increased its stake in shares of GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares during the period. Wealth Watch Advisors INC acquired a new position in shares of GE Vernova during the third quarter valued at approximately $25,000. Torren Management LLC acquired a new position in shares of GE Vernova during the fourth quarter valued at approximately $26,000. ORG Wealth Partners LLC increased its stake in shares of 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 acquiring an additional 29 shares during the period. Finally, Navalign LLC acquired a new position in shares of GE Vernova during the fourth quarter valued at approximately $27,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GEV shares. Zacks Research lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Royal Bank Of Canada raised their price objective on shares of GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Argus set a $1,300.00 target price on shares of GE Vernova in a report on Monday, April 27th. Citigroup raised their target price on shares of GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Finally, Weiss Ratings upgraded shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,085.16.

Insider Activity at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova 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 sale, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

GE Vernova Trading Up 3.7%

NYSE GEV opened at $940.14 on Friday. GE Vernova Inc. has a twelve month low of $474.21 and a twelve month high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The stock has a market cap of $252.63 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 3.36 and a beta of 1.23. The firm’s 50 day moving average price is $1,008.85 and its two-hundred day moving average price is $831.73.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share 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 for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the previous year, the company posted $0.91 EPS. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities analysts anticipate that GE Vernova Inc. will post 14.99 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 given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s payout ratio 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.