Tactive Advisors LLC Sells 783 Shares of GE Vernova Inc. $GEV

Tactive Advisors LLC lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 54.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 662 shares of the company’s stock after selling 783 shares during the period. Tactive Advisors LLC’s holdings in GE Vernova were worth $778,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. World Investment Advisors raised its holdings in GE Vernova by 19.9% during the fourth quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after buying an additional 2,241 shares in the last quarter. Merit Financial Group LLC boosted its stake in shares of GE Vernova by 17.4% during the 4th quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock worth $9,856,000 after acquiring an additional 2,230 shares in the last quarter. Riverbend Wealth Management LLC bought a new stake in shares of GE Vernova during the 4th quarter worth about $567,000. Vest Financial LLC increased its holdings in shares of GE Vernova by 56.7% during the 4th quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock valued at $43,260,000 after acquiring an additional 23,956 shares during the last quarter. Finally, RiverFront Investment Group LLC raised its stake in shares of GE Vernova by 239.2% in the 4th quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock valued at $1,432,000 after acquiring an additional 1,545 shares in the last quarter.

Insiders Place Their Bets

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the 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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 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 disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $990.15 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $1,026.62 and its two-hundred day moving average is $945.18. The company has a market cap of $263.71 billion, a P/E ratio of 28.34, a P/E/G ratio of 3.53 and a beta of 1.21. GE Vernova Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.86 earnings per share. On average, equities analysts expect that GE Vernova Inc. will post 15.57 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Investors 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 was Tuesday, June 16th. GE Vernova’s dividend payout ratio is presently 5.72%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GEV shares. Susquehanna set a $1,300.00 target price on GE Vernova in a report on Thursday, April 23rd. Zacks Research downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Morgan Stanley lowered shares of GE Vernova from an “overweight” rating to an “underweight” rating in a research report on Monday, August 3rd. Mizuho boosted their price objective on shares of GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, Citigroup upped their price objective on shares of GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,133.15.

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.