GE Vernova Inc. $GEV Shares Sold by Eventide Asset Management LLC

Eventide Asset Management LLC lowered its position in GE Vernova Inc. (NYSE:GEV) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 187,122 shares of the company’s stock after selling 5,576 shares during the quarter. GE Vernova accounts for approximately 1.9% of Eventide Asset Management LLC’s portfolio, making the stock its 7th biggest holding. Eventide Asset Management LLC’s holdings in GE Vernova were worth $122,373,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Entropy Technologies LP lifted its stake in GE Vernova by 239.9% in the fourth quarter. Entropy Technologies LP now owns 19,679 shares of the company’s stock valued at $12,862,000 after acquiring an additional 13,889 shares during the last quarter. Ariadne Wealth Management LP lifted its stake in GE Vernova by 22.6% in the fourth quarter. Ariadne Wealth Management LP now owns 614 shares of the company’s stock valued at $401,000 after acquiring an additional 113 shares during the last quarter. Avid Wealth Partners LLC acquired a new stake in GE Vernova in the fourth quarter valued at $209,000. Blue Jean Financial LLC acquired a new stake in GE Vernova in the fourth quarter valued at $3,638,000. Finally, Bollard Group LLC lifted its stake in GE Vernova by 1,828.6% in the fourth quarter. Bollard Group LLC now owns 405 shares of the company’s stock valued at $265,000 after acquiring an additional 384 shares during the last quarter.

Insider Activity

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction dated Thursday, May 14th. The shares were 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 $3,758,710.41. The trade was a 39.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction 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 $1,739,726.80. This trade represents a 72.42% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by insiders.

GE Vernova Stock Performance

NYSE GEV opened at $940.14 on Friday. The firm has a 50-day moving average of $1,008.85 and a 200-day moving average of $831.73. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The stock has a market cap of $252.63 billion, a PE ratio of 27.39, a P/E/G ratio of 3.49 and a beta of 1.23. GE Vernova Inc. has a 52-week low of $474.21 and a 52-week high of $1,181.95.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. The company had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. GE Vernova’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS. On average, sell-side analysts anticipate that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

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

Analysts Set New Price Targets

GEV has been the subject of a number of recent analyst reports. Guggenheim increased their price target on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Weiss Ratings upgraded shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. The Goldman Sachs Group restated a “buy” rating and set a $1,328.00 target price on shares of GE Vernova in a research note on Friday, April 24th. BNP Paribas Exane cut shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price for the company. in a research note on Monday, April 27th. Finally, Zacks Research cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,085.16.

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.