Wick Capital Partners LLC Takes $13.06 Million Position in GE Vernova Inc. $GEV

Wick Capital Partners LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEVFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,982 shares of the company’s stock, valued at approximately $13,060,000. GE Vernova makes up about 0.9% of Wick Capital Partners LLC’s investment portfolio, making the stock its 17th biggest position.

Several other large investors also recently made changes to their positions in GEV. Jackson Grant Investment Advisers Inc. raised its stake in GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the period. Cornerstone Financial Management LLC bought a new position in GE Vernova in the fourth quarter worth approximately $25,000. Wealth Watch Advisors INC acquired a new stake in GE Vernova in the third quarter valued at approximately $25,000. Torren Management LLC acquired a new stake in GE Vernova in the fourth quarter valued at approximately $26,000. Finally, ORG Wealth Partners LLC grew its stake in GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after acquiring an additional 29 shares during the period.

Insider Buying and Selling at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the 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 owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The sale 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 stock in a transaction dated Thursday, May 14th. The shares were 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 owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

GE Vernova News Roundup

Here are the key news stories impacting GE Vernova this week:

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of research reports. Citigroup upped their target price on GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. Rothschild & Co Redburn raised shares of GE Vernova from a “sell” rating to a “buy” rating and lifted their price target for the company from $560.00 to $1,100.00 in a research report on Monday, March 9th. The Goldman Sachs Group restated a “buy” rating and set a $1,328.00 price target on shares of GE Vernova in a research note on Friday, April 24th. Barclays upped their price objective on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Finally, Robert W. Baird raised their price objective on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,089.88.

Get Our Latest Analysis on GEV

GE Vernova Stock Up 6.0%

GEV stock opened at $1,111.65 on Friday. The firm has a market capitalization of $298.72 billion, a PE ratio of 32.38, a P/E/G ratio of 3.89 and a beta of 1.23. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a twelve month low of $479.04 and a twelve month high of $1,181.95. The stock’s 50 day moving average is $1,019.28 and its 200-day moving average is $845.99.

GE Vernova (NYSE:GEVGet Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $15.49. The business had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.GE Vernova’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 earnings per share. Sell-side analysts expect that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is presently 5.83%.

GE Vernova Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for GE Vernova (NYSE:GEV)

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