GE Vernova Inc. $GEV Shares Sold by Aventail Capital Group LP

Aventail Capital Group LP reduced its position in shares of GE Vernova Inc. (NYSE:GEVFree Report) by 70.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,853 shares of the company’s stock after selling 11,618 shares during the period. Aventail Capital Group LP’s holdings in GE Vernova were worth $3,172,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Torren Management LLC acquired a new position in shares of GE Vernova during the fourth quarter worth $26,000. Cornerstone Financial Management LLC acquired a new position in shares of GE Vernova during the fourth quarter worth $25,000. Jackson Grant Investment Advisers Inc. lifted its position in shares of GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares in the last quarter. Wealth Watch Advisors INC acquired a new position in shares of GE Vernova during the third quarter worth $25,000. Finally, ORG Wealth Partners LLC lifted its position in shares of GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after purchasing an additional 29 shares in the last quarter.

Insider Buying and Selling at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GEV shares. Sanford C. Bernstein began coverage on shares of GE Vernova in a research report on Tuesday. They set an “outperform” rating and a $1,206.00 target price on the stock. Susquehanna set a $1,300.00 price target on shares of GE Vernova in a research note on Thursday, April 23rd. BMO Capital Markets lifted their price target on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Jefferies Financial Group dropped their price target on shares of GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating for the company in a research note on Thursday, June 11th. Finally, Royal Bank Of Canada lifted their price target on shares of GE Vernova from $996.00 to $1,195.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $1,089.88.

Read Our Latest Stock Report on GE Vernova

GE Vernova Stock Up 6.8%

GEV stock opened at $1,048.81 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. GE Vernova Inc. has a 1-year low of $479.04 and a 1-year high of $1,181.95. The firm has a fifty day moving average price of $1,015.25 and a two-hundred day moving average price of $842.37. The firm has a market cap of $281.84 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 3.64 and a beta of 1.23.

GE Vernova (NYSE:GEVGet Free Report) last released 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 firm had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. Research analysts predict that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s payout ratio is 5.83%.

Key Headlines Impacting GE Vernova

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

About GE Vernova

(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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