Folger Nolan Fleming Douglas Capital Management Inc. Acquires 2,582 Shares of GE Vernova Inc. $GEV

Folger Nolan Fleming Douglas Capital Management Inc. boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 106.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,003 shares of the company’s stock after acquiring an additional 2,582 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in GE Vernova were worth $4,367,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. World Investment Advisors boosted its holdings in 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 acquiring an additional 2,241 shares during the last quarter. Varenne Capital Partners purchased a new stake in shares of GE Vernova in the third quarter valued at about $4,872,000. Merit Financial Group LLC raised its holdings in shares of GE Vernova by 17.4% in the fourth quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock valued at $9,856,000 after purchasing an additional 2,230 shares during the last quarter. Vest Financial LLC lifted 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 valued at $43,260,000 after purchasing an additional 23,956 shares in the last quarter. Finally, Riverbend Wealth Management LLC purchased a new position in GE Vernova during the fourth quarter worth about $567,000.

GE Vernova Stock Performance

NYSE GEV opened at $1,101.11 on Tuesday. The company has a market capitalization of $295.89 billion, a PE ratio of 32.07, a price-to-earnings-growth ratio of 3.87 and a beta of 1.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. GE Vernova Inc. has a 52-week low of $482.20 and a 52-week high of $1,181.95. The company has a 50-day simple moving average of $1,033.60 and a 200 day simple moving average of $869.03.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 earned $0.91 earnings per share. The company’s quarterly revenue was up 17.0% on a year-over-year basis. On average, research analysts predict 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. Investors of record on Tuesday, June 16th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is presently 5.83%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GEV shares. BNP Paribas Exane downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective for the company. in a research report on Monday, April 27th. Zacks Research downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Morgan Stanley boosted their target price on GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. Susquehanna set a $1,300.00 target price on GE Vernova in a report on Thursday, April 23rd. Finally, Weiss Ratings upgraded GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $1,089.88.

Insider Buying and Selling at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This represents a 39.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate 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.