Hillsdale Investment Management Inc. Buys New Position in GE Vernova Inc. $GEV

Hillsdale Investment Management Inc. acquired a new position in shares of GE Vernova Inc. (NYSE:GEVFree Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,550 shares of the company’s stock, valued at approximately $2,226,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Auto Owners Insurance Co lifted its position in GE Vernova by 110,973.4% during the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after buying an additional 34,826,773 shares during the period. Norges Bank purchased a new stake in GE Vernova in the 4th quarter valued at about $2,283,114,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of GE Vernova by 5,171.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock valued at $1,603,114,000 after acquiring an additional 2,406,326 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in shares of GE Vernova by 2,802.8% during the 4th quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock worth $1,051,407,000 after acquiring an additional 1,553,295 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of GE Vernova by 12.8% during the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock worth $3,957,024,000 after acquiring an additional 685,466 shares during the period.

GE Vernova Price Performance

GE Vernova stock opened at $1,053.31 on Thursday. GE Vernova Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94. The firm has a fifty day moving average of $1,037.38 and a 200-day moving average of $905.20. The firm has a market capitalization of $283.04 billion, a P/E ratio of 30.68, a PEG ratio of 3.93 and a beta of 1.09. 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:GEVGet Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The business’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, analysts predict that GE Vernova Inc. will post 15.06 EPS for the current year.

GE Vernova Dividend Announcement

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

Insider Transactions at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction dated 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 owned 3,549 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

GE Vernova News Roundup

Here are the key news stories impacting GE Vernova this week:

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Guggenheim boosted their target price on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Royal Bank Of Canada lifted their price target on shares of GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Barclays boosted their price objective on shares of GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Jefferies Financial Group dropped their price objective on GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating for the company in a report on Thursday, June 11th. Finally, JPMorgan Chase & Co. increased their target price on GE Vernova from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,089.88.

View Our Latest Analysis on GEV

GE Vernova Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for GE Vernova (NYSE:GEV)

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