WNY Asset Management LLC Takes $463,000 Position in GE Vernova Inc. $GEV

WNY Asset Management LLC bought a new position in GE Vernova Inc. (NYSE:GEV) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 530 shares of the company’s stock, valued at approximately $463,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Onyx Bridge Wealth Group LLC lifted its stake in GE Vernova by 1.3% in the 1st quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock worth $635,000 after purchasing an additional 9 shares in the last quarter. Red Door Wealth Management LLC grew its position in shares of GE Vernova by 0.6% during the first quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock valued at $1,548,000 after purchasing an additional 10 shares in the last quarter. Advance Capital Management Inc. grew its position in shares of GE Vernova by 2.2% during the first quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock valued at $402,000 after purchasing an additional 10 shares in the last quarter. Alpha Financial Partners LLC grew its position in shares of GE Vernova by 2.0% during the first quarter. Alpha Financial Partners LLC now owns 514 shares of the company’s stock valued at $449,000 after purchasing an additional 10 shares in the last quarter. Finally, Bell Investment Advisors Inc increased its holdings in shares of GE Vernova by 5.2% in the first quarter. Bell Investment Advisors Inc now owns 221 shares of the company’s stock worth $193,000 after purchasing an additional 11 shares during the last quarter.

Insider Activity at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the 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 sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was 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 owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Jefferies Financial Group reiterated a “buy” rating on shares of GE Vernova in a research report on Monday, July 27th. Zacks Research cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. BMO Capital Markets upped their price objective on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Morgan Stanley increased their target price on GE Vernova from $1,250.00 to $1,350.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Finally, Robert W. Baird raised their target price on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,133.15.

GE Vernova Stock Up 0.8%

Shares of NYSE:GEV opened at $990.30 on Friday. The company has a market cap of $263.75 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 3.56 and a beta of 1.09. GE Vernova Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $1,028.05 and a 200 day moving average price of $932.76.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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 return on equity of 42.42% and a net margin of 23.03%.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 previous year, the firm earned $1.86 earnings per share. The company’s revenue was up 21.9% compared to the same quarter last year. As a group, equities research analysts predict that GE Vernova Inc. will post 15.46 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were issued a $0.50 dividend. The ex-dividend date was 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 5.72%.

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.