Oliver Luxxe Assets LLC Reduces Holdings in GE Vernova Inc. $GEV

Oliver Luxxe Assets LLC reduced its position in shares of GE Vernova Inc. (NYSE:GEV) by 18.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 12,804 shares of the company’s stock after selling 2,901 shares during the period. GE Vernova comprises about 2.2% of Oliver Luxxe Assets LLC’s investment portfolio, making the stock its largest holding. Oliver Luxxe Assets LLC’s holdings in GE Vernova were worth $15,043,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GEV. Cornerstone Financial Management LLC bought a new position in GE Vernova in the fourth quarter worth approximately $25,000. Wealth Watch Advisors INC purchased a new stake in GE Vernova during the third quarter valued at approximately $25,000. Torren Management LLC acquired a new stake in GE Vernova in the fourth quarter valued at approximately $26,000. Manning & Napier Advisors LLC boosted its stake in GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after acquiring an additional 13 shares in the last quarter. Finally, Navalign LLC purchased a new position in GE Vernova in the fourth quarter worth $27,000.

Analysts Set New Price Targets

GEV has been the topic of a number of recent analyst reports. Guggenheim upped their price target on GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Susquehanna set a $1,300.00 price objective on GE Vernova in a research report on Thursday, April 23rd. Zacks Research downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. upped their target price on GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Finally, Wall Street Zen cut GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,133.15.

GE Vernova Trading Down 1.0%

Shares of GE Vernova stock opened at $990.15 on Friday. The firm’s 50 day simple moving average is $1,026.62 and its two-hundred day simple moving average is $945.18. The firm has a market capitalization of $263.71 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 3.53 and a beta of 1.21. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. 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 (NYSE:GEV) last posted 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). The company had revenue of $11.10 billion for 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 company’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.86 earnings per share. 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. Investors 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 yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 5.72%.

Insider Transactions at GE Vernova

In other GE Vernova news, 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 approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% 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.

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.