GE Vernova Inc. $GEV Stake Trimmed by GPS Wealth Strategies Group LLC

GPS Wealth Strategies Group LLC lowered its stake in GE Vernova Inc. (NYSE:GEV) by 98.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 224 shares of the company’s stock after selling 13,826 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in GE Vernova were worth $146,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in GE Vernova by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock worth $16,354,691,000 after purchasing an additional 208,162 shares in the last quarter. State Street Corp increased its stake in GE Vernova by 1.3% in the 3rd quarter. State Street Corp now owns 11,238,278 shares of the company’s stock worth $6,910,417,000 after purchasing an additional 140,500 shares in the last quarter. Northern Trust Corp increased its stake in GE Vernova by 1.8% in the 3rd quarter. Northern Trust Corp now owns 2,877,458 shares of the company’s stock worth $1,769,349,000 after purchasing an additional 51,738 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in GE Vernova by 5,171.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock valued at $1,603,114,000 after acquiring an additional 2,406,326 shares in the last quarter. Finally, Invesco Ltd. grew its stake in GE Vernova by 7.1% during the 3rd quarter. Invesco Ltd. now owns 2,375,738 shares of the company’s stock valued at $1,460,841,000 after acquiring an additional 158,481 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GEV. Royal Bank Of Canada lifted their target price on GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and lifted their target price for the company from $560.00 to $1,100.00 in a research note on Monday, March 9th. Weiss Ratings raised GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Erste Group Bank raised GE Vernova to a “strong-buy” rating in a research note on Tuesday, March 24th. Finally, BNP Paribas Exane cut GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price on the stock. in a research note on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,090.76.

GE Vernova Stock Down 0.4%

Shares of GE Vernova stock opened at $1,039.71 on Friday. The firm has a market cap of $279.39 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 3.91 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. GE Vernova Inc. has a 52-week low of $458.65 and a 52-week high of $1,181.95. The stock has a 50-day simple moving average of $978.06 and a 200-day simple moving average of $790.29.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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%.The firm’s revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 EPS. On average, equities research analysts expect that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders 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 dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s payout ratio is currently 5.83%.

Insider Activity

In other news, 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 transaction of $2,470,856.97. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.

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.