Union Savings Bank Invests $540,000 in GE Vernova Inc. $GEV

Union Savings Bank acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 827 shares of the company’s stock, valued at approximately $540,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its position in GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after acquiring an additional 753 shares during the last quarter. Schnieders Capital Management LLC. grew its position in shares of GE Vernova by 1.7% in the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after purchasing an additional 26 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of GE Vernova in the second quarter valued at about $258,000. Ossiam bought a new position in shares of GE Vernova in the second quarter worth about $42,000. Finally, Nebula Research & Development LLC increased its stake in shares of GE Vernova by 23.9% in the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock worth $886,000 after purchasing an additional 323 shares during the period.

GE Vernova Trading Up 0.2%

Shares of GEV opened at $1,111.65 on Friday. The stock’s 50-day moving average price is $1,022.78 and its 200 day moving average price is $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 firm has a market capitalization of $298.72 billion, a price-to-earnings ratio of 32.38, a P/E/G ratio of 4.11 and a beta of 1.23. GE Vernova Inc. has a 12-month low of $479.04 and a 12-month high of $1,181.95.

GE Vernova (NYSE:GEV) last issued its 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 business had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.GE Vernova’s revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. As a group, research analysts predict that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Insider Transactions at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $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 accessible through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction on 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 completion of the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GEV has been the subject of several recent analyst reports. BMO Capital Markets increased their target price on GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Jefferies Financial Group dropped their price target on GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating on the stock in a research report on Thursday, June 11th. Rothschild & Co Redburn upgraded GE Vernova from a “sell” rating to a “buy” rating and upped their price target for the stock from $560.00 to $1,100.00 in a report on Monday, March 9th. BNP Paribas Exane cut GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective for the company. in a research report on Monday, April 27th. Finally, Wells Fargo & Company raised their price objective on shares of GE Vernova from $831.00 to $896.00 and gave the stock 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.