Pine Valley Investments Ltd Liability Co Has $4.94 Million Holdings in GE Vernova Inc. $GEV

Pine Valley Investments Ltd Liability Co raised its holdings in GE Vernova Inc. (NYSE:GEV) by 93.8% during the first quarter, HoldingsChannel.com reports. The fund owned 5,662 shares of the company’s stock after purchasing an additional 2,741 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in GE Vernova were worth $4,942,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of GEV. Cornerstone Financial Management LLC acquired a new stake in shares of GE Vernova in the 4th quarter valued at approximately $25,000. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova during the 3rd quarter valued at approximately $25,000. Torren Management LLC acquired a new position in GE Vernova during the 4th quarter worth approximately $26,000. Manning & Napier Advisors LLC increased its position in GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after purchasing an additional 13 shares in the last quarter. Finally, Navalign LLC bought a new position in GE Vernova in the 4th quarter valued at approximately $27,000.

Analyst Ratings Changes

GEV has been the topic of a number of research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of GE Vernova in a research report on Tuesday, July 21st. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Susquehanna set a $1,300.00 price target on GE Vernova in a research note on Thursday, April 23rd. Argus set a $1,300.00 price objective on GE Vernova in a report on Monday, April 27th. Finally, Morgan Stanley boosted their price objective on GE Vernova from $1,250.00 to $1,350.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,133.15.

GE Vernova Price Performance

GEV stock opened at $990.30 on Monday. The company has a fifty day moving average price of $1,028.05 and a 200-day moving average price of $934.82. The company has a market capitalization of $263.75 billion, a P/E ratio of 28.34, a PEG ratio of 3.56 and a beta of 1.09. GE Vernova Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85.

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). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. During the same quarter last year, the firm posted $1.86 EPS. GE Vernova’s revenue for the quarter was up 21.9% on a year-over-year basis. As a group, equities analysts expect that GE Vernova Inc. will post 15.46 EPS for the current year.

GE Vernova Dividend Announcement

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

Insider Activity

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction dated 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 approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.

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.