King Wealth Management Group Purchases 474 Shares of GE Vernova Inc. $GEV

King Wealth Management Group increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 34.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,840 shares of the company’s stock after buying an additional 474 shares during the quarter. King Wealth Management Group’s holdings in GE Vernova were worth $1,203,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Jackson Grant Investment Advisers Inc. grew its stake 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 purchasing an additional 31 shares in the last quarter. Wealth Watch Advisors INC bought a new position in GE Vernova in the third quarter valued at approximately $25,000. Torren Management LLC bought a new position in GE Vernova in the fourth quarter valued at approximately $26,000. ORG Wealth Partners LLC grew its stake 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 purchasing an additional 29 shares in the last quarter. Finally, Navalign LLC bought a new position in GE Vernova in the fourth quarter valued at approximately $27,000.

Insider Activity

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of analyst reports. Royal Bank Of Canada raised their price target on GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. JPMorgan Chase & Co. raised their price target on GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Susquehanna set a $1,300.00 price target on GE Vernova in a research note on Thursday, April 23rd. BMO Capital Markets raised their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Finally, Evercore raised their price target on GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $1,090.76.

GE Vernova Stock Performance

GEV opened at $1,071.65 on Wednesday. GE Vernova Inc. has a 12-month low of $458.65 and a 12-month high of $1,181.95. The stock has a market cap of $287.97 billion, a price-to-earnings ratio of 31.22, a PEG ratio of 3.89 and a beta of 1.51. The business has a 50 day moving average of $987.58 and a 200-day moving average of $798.82. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period last year, the firm posted $0.91 earnings per share. The business’s revenue was up 17.0% on a year-over-year basis. On average, equities research analysts expect that GE Vernova Inc. will post 14.84 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s dividend payout ratio (DPR) is presently 5.83%.

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.