Empowered Funds LLC Increases Stock Position in GE Vernova Inc. $GEV

Empowered Funds LLC raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 121.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,558 shares of the company’s stock after purchasing an additional 39,294 shares during the period. GE Vernova accounts for approximately 0.4% of Empowered Funds LLC’s holdings, making the stock its 28th biggest position. Empowered Funds LLC’s holdings in GE Vernova were worth $62,463,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Auto Owners Insurance Co boosted its stake in GE Vernova by 110,973.4% during the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after buying an additional 34,826,773 shares during the last quarter. 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 acquiring an additional 208,162 shares during the last quarter. State Street Corp raised its holdings in shares of GE Vernova by 2.1% during the 4th quarter. State Street Corp now owns 11,469,670 shares of the company’s stock worth $7,496,232,000 after acquiring an additional 231,392 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of GE Vernova by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock worth $4,074,039,000 after acquiring an additional 68,894 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of GE Vernova by 12.8% during the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock valued at $3,957,024,000 after acquiring an additional 685,466 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GEV. Argus set a $1,300.00 target price on shares of GE Vernova in a report on Monday, April 27th. BMO Capital Markets upped their price target on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Barclays increased their price objective on shares of GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Wells Fargo & Company lifted their price objective on shares of GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Finally, Jefferies Financial Group restated a “buy” rating on shares of GE Vernova in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,133.15.

Insider Buying and Selling at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the stock in a transaction on 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 owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s 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 owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by insiders.

GE Vernova Price Performance

NYSE:GEV opened at $997.11 on Tuesday. The firm has a market capitalization of $265.56 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 3.72 and a beta of 1.09. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The business has a 50 day simple moving average of $1,034.12 and a 200-day simple moving average of $925.93. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same period in the prior year, the firm posted $1.86 EPS. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. Equities analysts forecast that GE Vernova Inc. will post 15.16 EPS for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 16th. GE Vernova’s payout ratio is presently 5.72%.

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.