Mariner LLC Purchases 35,941 Shares of GE Vernova Inc. $GEV

Mariner LLC grew its position in GE Vernova Inc. (NYSE:GEV) by 7.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 499,287 shares of the company’s stock after buying an additional 35,941 shares during the period. Mariner LLC’s holdings in GE Vernova were worth $326,344,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. RFG Advisory LLC lifted its position in shares of GE Vernova by 2.1% in the 4th quarter. RFG Advisory LLC now owns 634 shares of the company’s stock worth $414,000 after acquiring an additional 13 shares during the period. BlackDiamond Wealth Management LLC lifted its position in shares of GE Vernova by 2.8% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company’s stock worth $308,000 after acquiring an additional 13 shares during the period. Apriem Advisors lifted its position in shares of GE Vernova by 0.7% in the 4th quarter. Apriem Advisors now owns 2,124 shares of the company’s stock worth $1,388,000 after acquiring an additional 14 shares during the period. Voisard Asset Management Group Inc. lifted its position in shares of GE Vernova by 2.7% in the 4th quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company’s stock worth $376,000 after acquiring an additional 15 shares during the period. Finally, Clean Yield Group lifted its position in shares of GE Vernova by 2.2% in the 4th quarter. Clean Yield Group now owns 685 shares of the company’s stock worth $448,000 after acquiring an additional 15 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GEV. Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and increased their target price for the stock from $560.00 to $1,100.00 in a report on Monday, March 9th. Robert W. Baird increased their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Morgan Stanley increased their target price on GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. Royal Bank Of Canada increased their target price on GE Vernova from $996.00 to $1,195.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. increased their target price on GE Vernova from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Two equities research 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,085.16.

Insiders Place Their Bets

In related news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction 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. This trade represents a 72.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s 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 of the company’s stock, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

GE Vernova Trading Down 0.1%

GEV stock opened at $940.14 on Monday. The business has a fifty day moving average price of $1,008.85 and a 200 day moving average price of $833.50. GE Vernova Inc. has a fifty-two week low of $474.21 and a fifty-two week high of $1,181.95. The stock has a market capitalization of $252.63 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 3.49 and a beta of 1.24. 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 released its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period last year, the firm posted $0.91 EPS. The business’s revenue was up 17.0% on a year-over-year basis. Analysts expect that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm 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 dividend on an annualized basis 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%.

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.