G&S Capital LLC Buys Shares of 3,038 GE Vernova Inc. $GEV

G&S Capital LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, Holdings Channel.com reports. The fund purchased 3,038 shares of the company’s stock, valued at approximately $3,569,000.

A number of other institutional investors also recently made changes to their positions in the stock. Auto Owners Insurance Co increased its stake in shares of 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 valued at $2,278,224,000 after acquiring an additional 34,826,773 shares during the period. Vanguard Group Inc. lifted its position in GE Vernova by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock worth $16,354,691,000 after purchasing an additional 208,162 shares during the period. State Street Corp lifted its position in GE Vernova by 2.1% in the fourth quarter. State Street Corp now owns 11,469,670 shares of the company’s stock worth $7,496,232,000 after purchasing an additional 231,392 shares during the period. Geode Capital Management LLC lifted its position in GE Vernova by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock worth $4,074,039,000 after purchasing an additional 68,894 shares during the period. Finally, Morgan Stanley boosted its stake in GE Vernova by 12.8% during the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock valued at $3,957,024,000 after purchasing an additional 685,466 shares in the last quarter.

Insiders Place Their Bets

In related 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 directly owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction dated 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 $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GEV shares. TD Cowen lifted their price target on GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. upped their price objective on GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Robert W. Baird raised their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Oppenheimer lifted their target price on GE Vernova from $1,303.00 to $1,338.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Finally, Barclays boosted their price target on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,133.15.

GE Vernova Price Performance

NYSE GEV opened at $1,010.59 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94. The company has a market cap of $269.15 billion, a PE ratio of 28.92, a PEG ratio of 3.53 and a beta of 1.21. The stock’s 50-day moving average price is $1,028.19 and its two-hundred day moving average price is $951.59.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion during 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 quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.86 earnings per share. On average, analysts predict that GE Vernova Inc. will post 15.57 EPS for the current year.

GE Vernova Dividend Announcement

The company 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. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 16th. GE Vernova’s payout ratio is 5.72%.

About GE Vernova

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.