GE Vernova Inc. $GEV Shares Sold by Herbst Group LLC

Herbst Group LLC reduced its stake in GE Vernova Inc. (NYSE:GEV) by 15.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,050 shares of the company’s stock after selling 900 shares during the period. GE Vernova accounts for approximately 3.2% of Herbst Group LLC’s investment portfolio, making the stock its 4th biggest position. Herbst Group LLC’s holdings in GE Vernova were worth $5,933,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GEV. GoalVest Advisory LLC lifted its stake in shares of GE Vernova by 487.5% during the 2nd quarter. GoalVest Advisory LLC now owns 47 shares of the company’s stock worth $55,000 after buying an additional 39 shares during the last quarter. Aletheian Wealth Advisors LLC acquired a new position in GE Vernova in the 2nd quarter valued at about $280,000. Sax Wealth Advisors LLC raised its holdings in GE Vernova by 61.0% in the 2nd quarter. Sax Wealth Advisors LLC now owns 1,251 shares of the company’s stock valued at $1,470,000 after acquiring an additional 474 shares during the period. Cardano Risk Management B.V. bought a new position in GE Vernova in the 2nd quarter valued at about $105,170,000. Finally, Everpar Advisors LLC lifted its position in GE Vernova by 7.8% during the second quarter. Everpar Advisors LLC now owns 945 shares of the company’s stock worth $1,110,000 after acquiring an additional 68 shares during the last quarter.

Insiders Place Their Bets

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

GE Vernova Price Performance

Shares of NYSE:GEV opened at $990.15 on Monday. The firm has a 50 day moving average of $1,026.62 and a 200-day moving average of $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 current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $263.71 billion, a PE ratio of 28.34, a PEG ratio of 3.53 and a beta of 1.21.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The business’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.86 EPS. On average, equities research analysts predict that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is presently 5.72%.

Analyst Upgrades and Downgrades

GEV has been the topic of several research reports. Susquehanna set a $1,300.00 target price on GE Vernova in a research report on Thursday, April 23rd. Barclays lifted their price target on GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. BMO Capital Markets restated an “outperform” rating on shares of GE Vernova in a research note on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Vernova in a report on Tuesday, July 21st. Finally, Wall Street Zen cut GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $1,133.15.

GE Vernova Company 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.