True Vision MN LLC Takes Position in GE Vernova Inc. $GEV

True Vision MN LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 840 shares of the company’s stock, valued at approximately $733,000.

Other hedge funds have also recently made changes to their positions in the company. World Investment Advisors lifted its position in GE Vernova by 19.9% during the fourth quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after acquiring an additional 2,241 shares during the last quarter. US Bancorp DE boosted its stake in GE Vernova by 2.2% in the third quarter. US Bancorp DE now owns 100,542 shares of the company’s stock valued at $61,824,000 after acquiring an additional 2,163 shares in the last quarter. Varenne Capital Partners purchased a new position in GE Vernova in the third quarter worth $4,872,000. Merit Financial Group LLC grew its holdings in GE Vernova by 17.4% in the fourth quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock worth $9,856,000 after purchasing an additional 2,230 shares during the last quarter. Finally, Vest Financial LLC increased its position in shares of GE Vernova by 56.7% during the fourth quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock worth $43,260,000 after purchasing an additional 23,956 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Morgan Stanley increased their price objective on GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Royal Bank Of Canada upped their target price on GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Susquehanna set a $1,300.00 price target on GE Vernova in a research note on Thursday, April 23rd. BNP Paribas Exane cut GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target for the company. in a research note on Monday, April 27th. Finally, Weiss Ratings raised GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $1,089.88.

Insider Activity

In related news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction dated 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 completion of the sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction that occurred 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 owned 3,549 shares in the company, valued at approximately $3,758,710.41. This 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.

GE Vernova Trading Up 0.2%

NYSE GEV opened at $1,111.65 on Monday. The company has a fifty day simple moving average of $1,022.78 and a two-hundred day simple moving average of $849.76. The stock has a market cap of $298.72 billion, a P/E ratio of 32.38, a P/E/G ratio of 4.11 and a beta of 1.24. GE Vernova Inc. has a 12-month low of $479.04 and a 12-month 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 posted its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 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 the consensus estimate of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. On average, analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is currently 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.