GE Vernova Inc. $GEV Stock Position Raised by Main Street Research LLC

Main Street Research LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,692 shares of the company’s stock after acquiring an additional 1,531 shares during the quarter. GE Vernova makes up approximately 2.6% of Main Street Research LLC’s holdings, making the stock its 16th biggest holding. Main Street Research LLC’s holdings in GE Vernova were worth $44,249,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of GEV. Torren Management LLC acquired a new position in GE Vernova in the fourth quarter valued at approximately $26,000. Cornerstone Financial Management LLC acquired a new stake in shares of GE Vernova during the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova in the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC lifted its holdings in shares of GE Vernova by 241.7% in the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after purchasing an additional 29 shares during the last quarter. Finally, Navalign LLC acquired a new position in GE Vernova during the 4th quarter valued at approximately $27,000.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $1,073.77 on Friday. The stock has a market cap of $288.54 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 3.95 and a beta of 1.09. 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 12 month low of $520.00 and a 12 month high of $1,195.94. The stock’s 50 day moving average price is $1,039.56 and its 200 day moving average price is $893.94.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same period last year, the company posted $0.91 EPS. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. Equities research analysts anticipate that GE Vernova Inc. will post 15.05 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be paid 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 yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 5.83%.

Insider Activity

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s 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 sale, the chief accounting officer directly owned 3,549 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $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. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Erste Group Bank upgraded GE Vernova to a “strong-buy” rating in a research note on Tuesday, March 24th. Citigroup raised their target price on GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Jefferies Financial Group lowered 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 report on Thursday, June 11th. Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Argus set a $1,300.00 price objective on shares of GE Vernova in a research report on Monday, April 27th. Three equities research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,089.88.

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.