5,566 Shares in GE Vernova Inc. $GEV Bought by Blue Jean Financial LLC

Blue Jean Financial LLC bought a new position in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 5,566 shares of the company’s stock, valued at approximately $3,638,000. GE Vernova accounts for 3.0% of Blue Jean Financial LLC’s portfolio, making the stock its 3rd biggest position.

Other large investors also recently added to or reduced their stakes in the company. US Bancorp DE increased its position in shares of GE Vernova by 2.2% in the third quarter. US Bancorp DE now owns 100,542 shares of the company’s stock valued at $61,824,000 after acquiring an additional 2,163 shares during the period. Vanguard Group Inc. increased its position in shares of GE Vernova by 0.6% in the third quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock valued at $15,259,028,000 after acquiring an additional 150,892 shares during the period. Varenne Capital Partners purchased a new position in shares of GE Vernova in the third quarter valued at about $4,872,000. Merit Financial Group LLC increased its position 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 valued at $9,856,000 after acquiring an additional 2,230 shares during the period. Finally, Stevens Capital Management LP increased its position in shares of GE Vernova by 56.0% in the third quarter. Stevens Capital Management LP now owns 3,640 shares of the company’s stock valued at $2,238,000 after acquiring an additional 1,307 shares during the period.

Wall Street Analyst Weigh In

GEV has been the topic of a number of analyst reports. Guggenheim boosted their price objective on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Morgan Stanley lifted their target price on shares of GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. Royal Bank Of Canada lifted their target price on shares of GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Oppenheimer set a $1,303.00 target price on shares of GE Vernova in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,328.00 target price on shares of GE Vernova in a research note on Friday, April 24th. Two 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,085.16.

Insider Activity

In related news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. The trade was a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

GE Vernova Trading Up 3.7%

Shares of GEV opened at $940.14 on Friday. The firm’s 50-day moving average price is $1,008.85 and its 200-day moving average price is $831.73. The firm has a market capitalization of $252.63 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 3.49 and a beta of 1.23. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a 1-year low of $474.21 and a 1-year high of $1,181.95.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the previous year, the firm posted $0.91 earnings per share. GE Vernova’s quarterly revenue was up 17.0% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is presently 5.83%.

GE Vernova Company 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.