Keel Point LLC Has $1.11 Million Position in GE Vernova Inc. $GEV

Keel Point LLC lessened its stake in GE Vernova Inc. (NYSE:GEV) by 32.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,274 shares of the company’s stock after selling 610 shares during the period. Keel Point LLC’s holdings in GE Vernova were worth $1,112,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cozad Asset Management Inc. boosted its holdings in GE Vernova by 9.1% in the first quarter. Cozad Asset Management Inc. now owns 694 shares of the company’s stock valued at $606,000 after acquiring an additional 58 shares during the last quarter. Allen Capital Group LLC raised its holdings in GE Vernova by 20.4% during the 1st quarter. Allen Capital Group LLC now owns 655 shares of the company’s stock worth $572,000 after purchasing an additional 111 shares during the last quarter. Security Financial Services INC. raised its holdings in GE Vernova by 1.7% during the 1st quarter. Security Financial Services INC. now owns 736 shares of the company’s stock worth $642,000 after purchasing an additional 12 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of GE Vernova by 2.6% in the 1st quarter. Glenmede Trust Co. NA now owns 13,508 shares of the company’s stock worth $11,791,000 after purchasing an additional 348 shares during the period. Finally, Axiom Investment Management LLC acquired a new position in shares of GE Vernova in the 1st quarter worth approximately $869,000.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of analyst reports. Citigroup upped their price objective on shares of GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Weiss Ratings restated a “buy (b)” rating on shares of GE Vernova in a report on Tuesday, July 21st. Barclays boosted their target price on shares of GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. BNP Paribas Exane cut shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target on the stock. in a research report on Monday, April 27th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $1,328.00 price target on shares of GE Vernova in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,133.15.

Insider Transactions at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction dated 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. The trade was a 72.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s 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 transaction, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by corporate insiders.

GE Vernova Stock Performance

NYSE:GEV opened at $990.30 on Monday. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94. The company has a fifty day moving average of $1,028.05 and a 200-day moving average of $934.82. The firm has a market capitalization of $263.75 billion, a P/E ratio of 28.34, a P/E/G ratio of 3.56 and a beta of 1.09.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The firm’s revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.86 earnings per share. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 15.46 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is currently 5.72%.

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.