Stenger Family Office LLC Takes Position in GE Vernova Inc. $GEV

Stenger Family Office LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, Holdings Channel.com reports. The fund acquired 1,098 shares of the company’s stock, valued at approximately $718,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in GE Vernova by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock worth $16,354,691,000 after purchasing an additional 208,162 shares during the period. State Street Corp grew its stake in shares of GE Vernova by 2.1% in the 4th quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after buying an additional 231,392 shares during the period. Geode Capital Management LLC increased 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 buying an additional 68,894 shares during the last quarter. Morgan Stanley increased its holdings 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 worth $3,957,024,000 after buying an additional 685,466 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of GE Vernova during the 4th quarter valued at approximately $2,283,114,000.

Insider Buying and Selling

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the sale, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $1,111.65 on Friday. The stock has a market capitalization of $298.72 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 4.11 and a beta of 1.23. 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 business has a 50-day moving average of $1,022.78 and a 200 day moving average of $847.85. GE Vernova Inc. has a 12 month low of $479.04 and a 12 month high of $1,181.95.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. The company had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business’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 earned $0.91 earnings per share. As a group, sell-side analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors 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 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is 5.83%.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of recent analyst reports. Sanford C. Bernstein started coverage on GE Vernova in a report on Tuesday. They issued an “outperform” rating and a $1,206.00 price objective on the stock. BNP Paribas Exane cut GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price for the company. in a research note on Monday, April 27th. Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and raised their target price for the stock from $560.00 to $1,100.00 in a research note on Monday, March 9th. Zacks Research downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Morgan Stanley upped their price target on GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,089.88.

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.