MidFirst Bank Takes Position in GE Vernova Inc. $GEV

MidFirst Bank acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,807 shares of the company’s stock, valued at approximately $1,181,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Torren Management LLC bought a new position in shares of GE Vernova in the fourth quarter worth approximately $26,000. Cornerstone Financial Management LLC bought a new stake in shares of GE Vernova during the 4th quarter valued at $25,000. Jackson Grant Investment Advisers Inc. raised its position in shares of GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the period. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova during the 3rd quarter valued at $25,000. Finally, ORG Wealth Partners LLC lifted its stake in shares of GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after buying an additional 29 shares in the last quarter.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $1,111.65 on Friday. The firm has a fifty day simple moving average of $1,022.78 and a two-hundred day simple moving average of $847.85. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $298.72 billion, a P/E ratio of 32.38, a PEG ratio of 4.11 and a beta of 1.23. GE Vernova Inc. has a 52 week low of $479.04 and a 52 week high of $1,181.95.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 23.81% and a return on equity of 43.97%. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 EPS. On average, analysts expect that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.50 per share. 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 5.83%.

Insider Activity at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction that occurred on 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 completion of the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GEV shares. JPMorgan Chase & Co. upped their target price on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Oppenheimer set a $1,303.00 price objective on GE Vernova in a research report on Thursday, April 23rd. Royal Bank Of Canada upped their price objective on GE Vernova from $996.00 to $1,195.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. TD Cowen increased their target price on GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $1,328.00 target price on shares of GE Vernova in a research report on Friday, April 24th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.