Kimelman & Baird LLC Reduces Stake in GE Vernova Inc. $GEV

Kimelman & Baird LLC lowered its position in GE Vernova Inc. (NYSE:GEV) by 32.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,378 shares of the company’s stock after selling 668 shares during the period. Kimelman & Baird LLC’s holdings in GE Vernova were worth $901,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Torren Management LLC acquired a new position in GE Vernova in the fourth quarter valued at approximately $26,000. Jackson Grant Investment Advisers Inc. lifted its holdings in GE Vernova by 344.4% in 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 GE Vernova in the third quarter valued at approximately $25,000. ORG Wealth Partners LLC lifted its holdings in GE Vernova by 241.7% in 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 GE Vernova in the fourth quarter valued at approximately $27,000.

Insider Activity

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings raised GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Zacks Research downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. BMO Capital Markets boosted their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Wells Fargo & Company boosted their price target on GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $1,328.00 price target on shares of GE Vernova in a report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $1,090.76.

GE Vernova Stock Down 3.4%

NYSE GEV opened at $1,013.61 on Tuesday. The business has a fifty day moving average price of $961.74 and a 200 day moving average price of $779.07. GE Vernova Inc. has a one year low of $421.64 and a one year 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 company has a market cap of $272.38 billion, a P/E ratio of 29.53, a P/E/G ratio of 3.93 and a beta of 1.51.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating the consensus estimate of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the company earned $0.91 EPS. The firm’s revenue was up 17.0% compared to the same quarter last year. Research analysts anticipate that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

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.