Harbour Investments Inc. Reduces Position in GE Vernova Inc. $GEV

Harbour Investments Inc. lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 30.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,240 shares of the company’s stock after selling 2,293 shares during the quarter. Harbour Investments Inc.’s holdings in GE Vernova were worth $3,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. RFG Advisory LLC lifted its position in shares of GE Vernova by 2.1% during the 4th quarter. RFG Advisory LLC now owns 634 shares of the company’s stock valued at $414,000 after buying an additional 13 shares in the last quarter. Voisard Asset Management Group Inc. grew its stake in shares of GE Vernova by 2.7% during the 4th quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company’s stock valued at $376,000 after acquiring an additional 15 shares during the period. Clean Yield Group grew its stake in shares of GE Vernova by 2.2% during the 4th quarter. Clean Yield Group now owns 685 shares of the company’s stock valued at $448,000 after acquiring an additional 15 shares during the period. Rossmore Private Capital grew its stake in shares of GE Vernova by 2.8% during the 4th quarter. Rossmore Private Capital now owns 559 shares of the company’s stock valued at $365,000 after acquiring an additional 15 shares during the period. Finally, Forefront Wealth Partners LLC grew its stake in shares of GE Vernova by 1.5% during the 4th quarter. Forefront Wealth Partners LLC now owns 997 shares of the company’s stock valued at $652,000 after acquiring an additional 15 shares during the period.

GE Vernova Stock Down 3.6%

Shares of GEV stock opened at $1,031.61 on Thursday. The company has a market capitalization of $277.21 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 4.01 and a beta of 1.51. GE Vernova Inc. has a one year low of $458.65 and a one year high of $1,181.95. The company’s fifty day moving average price is $991.69 and its 200-day moving average price is $802.21. 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 (NYSE:GEV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating the consensus estimate of $1.95 by $15.49. The firm had revenue of $9.34 billion for 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 company’s revenue was up 17.0% on a year-over-year basis. During the same period last year, the firm earned $0.91 EPS. Sell-side analysts expect that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s payout ratio is currently 5.83%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays boosted their price objective on GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada raised their price objective on shares of GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Mizuho set a $714.00 price objective on shares of GE Vernova in a research report on Tuesday, February 3rd. BMO Capital Markets raised their price objective on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Finally, Evercore raised their price objective on shares of GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Two 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,090.76.

Insider Transactions at GE Vernova

In other GE Vernova news, 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 sale, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.21% of the company’s stock.

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.