Spectrum Asset Management Inc. NB CA Makes New Investment in GE Vernova Inc. $GEV

Spectrum Asset Management Inc. NB CA purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 825 shares of the company’s stock, valued at approximately $721,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cornerstone Financial Management LLC acquired a new position in shares of GE Vernova in the 4th quarter worth $25,000. Wealth Watch Advisors INC purchased a new stake in shares of GE Vernova during the third quarter valued at $25,000. Torren Management LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at $26,000. ORG Wealth Partners LLC increased its stake in 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 in the last quarter. Finally, Navalign LLC purchased a new position in GE Vernova in the 4th quarter worth about $27,000.

GE Vernova Price Performance

Shares of GEV opened at $1,045.74 on Friday. The company has a market capitalization of $281.01 billion, a price-to-earnings ratio of 30.46, a P/E/G ratio of 3.87 and a beta of 1.23. GE Vernova Inc. has a fifty-two week low of $482.20 and a fifty-two week high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The business’s 50-day moving average is $1,031.16 and its 200-day moving average is $863.97.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping the consensus estimate of $1.95 by $15.49. The business 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%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. Equities research analysts expect that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be given a $0.50 dividend. The ex-dividend date is 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 is presently 5.83%.

Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction 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 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent analyst reports. Jefferies Financial Group decreased their target price on shares of GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating for the company in a report on Thursday, June 11th. Rothschild & Co Redburn upgraded shares of GE Vernova from a “sell” rating to a “buy” rating and upped their price target for the company from $560.00 to $1,100.00 in a research report on Monday, March 9th. BMO Capital Markets raised their price objective on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a research report on Thursday, April 23rd. Finally, Wells Fargo & Company boosted their target price on shares of GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,089.88.

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.