Infrastructure Capital Advisors LLC Lowers Position in GE Vernova Inc. $GEV

Infrastructure Capital Advisors LLC cut its position in shares of GE Vernova Inc. (NYSE:GEV) by 61.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 501 shares of the company’s stock after selling 799 shares during the quarter. Infrastructure Capital Advisors LLC’s holdings in GE Vernova were worth $437,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. World Investment Advisors raised its stake in GE Vernova by 19.9% during the fourth quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after buying an additional 2,241 shares during the last quarter. Merit Financial Group LLC grew its stake in shares of GE Vernova by 17.4% in the fourth quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock worth $9,856,000 after acquiring an additional 2,230 shares during the last quarter. Vest Financial LLC grew its stake in shares of GE Vernova by 56.7% in the fourth quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock worth $43,260,000 after acquiring an additional 23,956 shares during the last quarter. Riverbend Wealth Management LLC bought a new position in shares of GE Vernova during the fourth quarter valued at $567,000. Finally, RiverFront Investment Group LLC increased its holdings in shares of GE Vernova by 239.2% during the fourth quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock valued at $1,432,000 after acquiring an additional 1,545 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GEV shares. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a research note on Thursday, April 23rd. TD Cowen lifted their target price on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Robert W. Baird upped their target price on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Finally, Guggenheim increased their price target on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,133.15.

GE Vernova Stock Down 1.7%

GEV stock opened at $997.11 on Tuesday. The stock has a market capitalization of $265.56 billion, a P/E ratio of 28.54, a P/E/G ratio of 3.72 and a beta of 1.09. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. GE Vernova Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94. The business has a fifty day moving average price of $1,034.12 and a 200-day moving average price of $925.93.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter in the previous year, the business posted $1.86 earnings per share. GE Vernova’s quarterly revenue was up 21.9% compared to the same quarter last year. Equities analysts forecast that GE Vernova Inc. will post 15.16 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were paid a $0.50 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is currently 5.72%.

Insider Activity at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction that occurred 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 directly owned 3,549 shares of the company’s stock, valued at $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred 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 owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.

GE Vernova 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.