Herbst Group LLC Trims Position in GE Vernova Inc. $GEV

Herbst Group LLC decreased its position in GE Vernova Inc. (NYSE:GEV) by 15.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,050 shares of the company’s stock after selling 900 shares during the period. GE Vernova makes up 3.2% of Herbst Group LLC’s portfolio, making the stock its 4th largest position. Herbst Group LLC’s holdings in GE Vernova were worth $5,933,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GEV. World Investment Advisors boosted its position in shares of GE Vernova by 19.9% during the fourth quarter. World Investment Advisors now owns 13,497 shares of the company’s stock worth $8,821,000 after buying an additional 2,241 shares during the period. Merit Financial Group LLC lifted its stake in GE Vernova by 17.4% in the 4th 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 in the last quarter. Riverbend Wealth Management LLC bought a new stake in GE Vernova in the 4th quarter valued at approximately $567,000. Vest Financial LLC boosted its position in GE Vernova by 56.7% during the 4th quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock worth $43,260,000 after acquiring an additional 23,956 shares during the last quarter. Finally, RiverFront Investment Group LLC boosted its position in GE Vernova by 239.2% during the 4th quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock worth $1,432,000 after acquiring an additional 1,545 shares during the last quarter.

GE Vernova Price Performance

Shares of GEV opened at $990.15 on Monday. The company has a market cap of $263.71 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 3.53 and a beta of 1.21. GE Vernova Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94. The company’s fifty day simple moving average is $1,026.62 and its 200 day simple moving average is $947.04. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.86 EPS. On average, research analysts forecast that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

Insider Activity

In related news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 of the company’s stock, 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. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of research reports. Argus set a $1,300.00 price objective on shares of GE Vernova in a research report on Monday, April 27th. BNP Paribas Exane downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price for the company. in a research report on Monday, April 27th. Zacks Research lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Mizuho boosted their price target on shares of GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Finally, Robert W. Baird increased their price objective on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating 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, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,133.15.

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.