Franklin Street Advisors Inc. NC Purchases 2,113 Shares of GE Vernova Inc. $GEV

Franklin Street Advisors Inc. NC increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 8.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,977 shares of the company’s stock after purchasing an additional 2,113 shares during the period. GE Vernova accounts for 1.8% of Franklin Street Advisors Inc. NC’s portfolio, making the stock its 16th largest holding. Franklin Street Advisors Inc. NC’s holdings in GE Vernova were worth $31,694,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GEV. Onyx Bridge Wealth Group LLC raised its holdings in GE Vernova by 1.3% during the first quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock valued at $635,000 after acquiring an additional 9 shares during the period. Red Door Wealth Management LLC boosted its stake in shares of GE Vernova by 0.6% in the first quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock worth $1,548,000 after acquiring an additional 10 shares during the period. Advance Capital Management Inc. boosted its stake in shares of GE Vernova by 2.2% in the first quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock worth $402,000 after acquiring an additional 10 shares during the period. Alpha Financial Partners LLC grew its position in shares of GE Vernova by 2.0% during the first quarter. Alpha Financial Partners LLC now owns 514 shares of the company’s stock worth $449,000 after purchasing an additional 10 shares in the last quarter. Finally, Sandy Cove Advisors LLC grew its position in shares of GE Vernova by 2.6% during the second quarter. Sandy Cove Advisors LLC now owns 389 shares of the company’s stock worth $457,000 after purchasing an additional 10 shares in the last quarter.

GE Vernova Price Performance

NYSE:GEV opened at $990.15 on Monday. The business’s 50-day moving average is $1,026.62 and its 200 day moving average is $947.04. GE Vernova Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94. The company has a market capitalization of $263.71 billion, a P/E ratio of 28.34, a P/E/G ratio of 3.53 and a beta of 1.21. 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 results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. During the same quarter in the prior year, the business earned $1.86 EPS. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, equities research analysts forecast that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 5.72%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Susquehanna set a $1,300.00 price target on GE Vernova in a report on Thursday, April 23rd. Zacks Research lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Sanford C. Bernstein lifted their price objective on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Monday, August 3rd. Finally, Argus set a $1,300.00 target price on shares of GE Vernova in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,133.15.

Insiders Place Their Bets

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the 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 completion of the transaction, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Victor Abate sold 4,819 shares of the 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 transaction, 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 SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

GE Vernova 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.