GE Vernova (NYSE:GEV) Trading Down 1.1% Following Insider Selling

GE Vernova Inc. (NYSE:GEV)’s share price fell 1.1% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $956.59 and last traded at $959.2950. 2,064,546 shares were traded during trading, a decline of 24% from the average session volume of 2,704,351 shares. The stock had previously closed at $969.67.

Specifically, CEO Victor Abate sold 4,819 shares of the 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 owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analysts Set New Price Targets

Several brokerages recently commented on GEV. 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 report on Thursday, April 23rd. Guggenheim boosted their price target on shares of GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Zacks Research cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Robert W. Baird lifted their target price on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Finally, Argus set a $1,300.00 target price on shares of GE Vernova in a report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,090.76.

GE Vernova Trading Down 2.2%

The firm’s 50 day simple moving average is $1,003.51 and its two-hundred day simple moving average is $818.87. The stock has a market capitalization of $253.10 billion, a P/E ratio of 27.42, a P/E/G ratio of 3.59 and a beta of 1.23. 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 posted its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping 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 business had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the business earned $0.91 EPS. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, analysts forecast that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Institutional Trading of GE Vernova

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Onyx Bridge Wealth Group LLC boosted its stake in shares of GE Vernova by 1.3% in the first quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock worth $635,000 after buying an additional 9 shares during the last quarter. Red Door Wealth Management LLC raised its position in GE Vernova by 0.6% during the first quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock valued at $1,548,000 after acquiring an additional 10 shares in the last quarter. Advance Capital Management Inc. lifted its holdings in GE Vernova by 2.2% in the first quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock valued at $402,000 after acquiring an additional 10 shares during the period. Alpha Financial Partners LLC boosted its position in GE Vernova by 2.0% in the 1st 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, Bell Investment Advisors Inc boosted its position in GE Vernova by 5.2% in the 1st quarter. Bell Investment Advisors Inc now owns 221 shares of the company’s stock worth $193,000 after purchasing an additional 11 shares in the last quarter.

About GE Vernova

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.