University of Texas Texas AM Investment Management Co. Has $3.40 Million Position in GE Vernova Inc. $GEV

University of Texas Texas AM Investment Management Co. increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 20.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,205 shares of the company’s stock after acquiring an additional 888 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in GE Vernova were worth $3,402,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. LFG Wealth Partners LLC bought a new position in GE Vernova during the 4th quarter worth $1,985,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at approximately $2,506,000. Silvant Capital Management LLC raised its position in GE Vernova by 0.3% during the fourth quarter. Silvant Capital Management LLC now owns 83,151 shares of the company’s stock valued at $54,345,000 after purchasing an additional 219 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in shares of GE Vernova by 68.1% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,135 shares of the company’s stock worth $742,000 after buying an additional 460 shares during the last quarter. Finally, TritonPoint Partners LLC bought a new position in shares of GE Vernova in the fourth quarter worth about $857,000.

GE Vernova Trading Up 4.2%

Shares of GEV opened at $980.08 on Tuesday. GE Vernova Inc. has a 1-year low of $479.04 and a 1-year 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 company has a market capitalization of $263.37 billion, a P/E ratio of 28.55, a P/E/G ratio of 3.49 and a beta of 1.24. The firm’s 50 day simple moving average is $1,010.48 and its 200 day simple moving average is $836.38.

GE Vernova (NYSE:GEV) last issued its 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. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. GE Vernova’s revenue for the quarter was up 17.0% on a year-over-year basis. Sell-side analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Insider Transactions at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares in the company, 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 through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova 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 transaction, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on GEV shares. Zacks Research lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. TD Cowen boosted their target price on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Guggenheim upped their target price on shares of GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Weiss Ratings raised GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Finally, Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,085.16.

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.