Spectrum Asset Management Inc. NB CA Makes New Investment in GE Vernova Inc. $GEV

Spectrum Asset Management Inc. NB CA purchased a new position in GE Vernova Inc. (NYSE:GEV) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 825 shares of the company’s stock, valued at approximately $721,000.

Several other hedge funds and other institutional investors have also modified their holdings of GEV. World Investment Advisors lifted its position in GE Vernova by 19.9% in the 4th quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after purchasing an additional 2,241 shares during the last quarter. Varenne Capital Partners acquired a new stake in shares of GE Vernova in the third quarter valued at approximately $4,872,000. Merit Financial Group LLC raised its holdings in shares of GE Vernova by 17.4% during the fourth quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock valued at $9,856,000 after buying an additional 2,230 shares during the last quarter. Vest Financial LLC raised its holdings in shares of GE Vernova by 56.7% during the fourth quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock valued at $43,260,000 after buying an additional 23,956 shares during the last quarter. Finally, Riverbend Wealth Management LLC acquired a new position in shares of GE Vernova during the fourth quarter worth approximately $567,000.

GE Vernova Price Performance

NYSE GEV opened at $1,045.74 on Friday. GE Vernova Inc. has a 12 month low of $482.20 and a 12 month high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The firm has a market capitalization of $281.01 billion, a PE ratio of 30.46, a P/E/G ratio of 3.87 and a beta of 1.23. The company’s 50 day simple moving average is $1,031.16 and its 200 day simple moving average is $863.97.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. The firm 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%.The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 earnings per share. As a group, equities research analysts forecast that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s payout ratio is currently 5.83%.

Insider Buying and Selling at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the business’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 sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s 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 directly owned 3,549 shares of the company’s stock, valued at $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

GEV has been the subject of a number of recent analyst reports. Zacks Research lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Robert W. Baird boosted their price target on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Wall Street Zen cut GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday. Guggenheim increased their price target on GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Finally, TD Cowen raised their price target on GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Three 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,089.88.

GE Vernova Company 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.