Kimelman & Baird LLC Sells 668 Shares of GE Vernova Inc. $GEV

Kimelman & Baird LLC decreased its position in GE Vernova Inc. (NYSE:GEV) by 32.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,378 shares of the company’s stock after selling 668 shares during the period. Kimelman & Baird LLC’s holdings in GE Vernova were worth $901,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. WD Rutherford LLC raised its position in GE Vernova by 32.1% in the 4th quarter. WD Rutherford LLC now owns 6,005 shares of the company’s stock worth $3,925,000 after buying an additional 1,459 shares during the last quarter. Entrust Financial LLC purchased a new stake in shares of GE Vernova during the 4th quarter valued at about $36,000. Spectrum Strategic Capital Management LLC purchased a new stake in shares of GE Vernova during the 4th quarter valued at about $592,000. Arrow Financial Corp increased its position in shares of GE Vernova by 3.2% during the 4th quarter. Arrow Financial Corp now owns 842 shares of the company’s stock valued at $550,000 after purchasing an additional 26 shares during the last quarter. Finally, Mission Wealth Management LP increased its position in shares of GE Vernova by 7.8% during the 4th quarter. Mission Wealth Management LP now owns 2,467 shares of the company’s stock valued at $1,613,000 after purchasing an additional 179 shares during the last quarter.

Insider Transactions at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova 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 transaction, the chief accounting officer owned 3,549 shares in the company, 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. 0.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on GEV. Jefferies Financial Group upped their price target on shares of GE Vernova from $965.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Guggenheim upped their price target on GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Zacks Research downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Erste Group Bank raised shares of GE Vernova to a “strong-buy” rating in a research note on Tuesday, March 24th. Finally, Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,090.76.

GE Vernova Stock Performance

GEV stock opened at $1,013.61 on Tuesday. 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 has a 50-day moving average price of $961.74 and a 200 day moving average price of $779.07. The company has a market capitalization of $272.38 billion, a P/E ratio of 29.53, a PEG ratio of 3.93 and a beta of 1.51. GE Vernova Inc. has a 1-year low of $421.64 and a 1-year high of $1,181.95.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. The firm had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share. As a group, equities research analysts forecast that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

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.