Dockside LLC Takes Position in GE Vernova Inc. $GEV

Dockside LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 3,658 shares of the company’s stock, valued at approximately $2,391,000.

A number of other hedge funds also recently made changes to their positions in GEV. Jackson Grant Investment Advisers Inc. raised its holdings in GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the last quarter. Wealth Watch Advisors INC bought a new position in GE Vernova in the 3rd quarter valued at approximately $25,000. Torren Management LLC bought a new position in GE Vernova in the 4th quarter valued at approximately $26,000. ORG Wealth Partners LLC raised its holdings in GE Vernova by 241.7% in the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after buying an additional 29 shares during the last quarter. Finally, Navalign LLC bought a new position in GE Vernova in the 4th quarter valued at approximately $27,000.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. BNP Paribas Exane lowered shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective for the company. in a report on Monday, April 27th. Morgan Stanley raised their price objective on shares of GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Rothschild & Co Redburn upgraded shares of GE Vernova from a “sell” rating to a “buy” rating and raised their price objective for the company from $560.00 to $1,100.00 in a report on Monday, March 9th. Barclays raised their price objective on shares of GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Finally, Guggenheim raised their price objective on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,085.16.

Insider Activity at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the firm’s 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 completion of the transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was 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 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 SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by company insiders.

GE Vernova Stock Up 3.7%

GE Vernova stock opened at $940.14 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. GE Vernova Inc. has a 52-week low of $474.21 and a 52-week high of $1,181.95. The firm has a 50 day moving average price of $1,008.85 and a two-hundred day moving average price of $831.73. The firm has a market cap of $252.63 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 3.49 and a beta of 1.23.

GE Vernova (NYSE:GEV) last released its quarterly 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 net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter last year, the business earned $0.91 EPS. The company’s revenue was up 17.0% compared to the same quarter last year. Equities analysts predict that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. 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 (DPR) is presently 5.83%.

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.