GE Vernova Inc. $GEV Stock Position Lowered by Newport Trust Company LLC

Newport Trust Company LLC cut its holdings in GE Vernova Inc. (NYSE:GEV) by 1.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,672,237 shares of the company’s stock after selling 18,839 shares during the quarter. GE Vernova makes up about 2.6% of Newport Trust Company LLC’s investment portfolio, making the stock its 10th largest position. Newport Trust Company LLC’s holdings in GE Vernova were worth $1,092,924,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of GE Vernova by 8.0% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,874 shares of the company’s stock worth $4,493,000 after buying an additional 510 shares in the last quarter. Goldenstone Wealth Management LLC purchased a new stake in shares of GE Vernova in the 4th quarter worth about $201,000. Global Retirement Partners LLC boosted its position in shares of GE Vernova by 57.7% in the 4th quarter. Global Retirement Partners LLC now owns 11,034 shares of the company’s stock worth $7,211,000 after buying an additional 4,037 shares in the last quarter. OneAscent Investment Solutions LLC boosted its position in shares of GE Vernova by 5.3% in the 4th quarter. OneAscent Investment Solutions LLC now owns 715 shares of the company’s stock worth $467,000 after buying an additional 36 shares in the last quarter. Finally, Twin Capital Management Inc. boosted its position in shares of GE Vernova by 0.8% in the 4th quarter. Twin Capital Management Inc. now owns 2,341 shares of the company’s stock worth $1,530,000 after buying an additional 19 shares in the last quarter.

GE Vernova Stock Up 2.0%

Shares of NYSE:GEV opened at $1,045.50 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a 52-week low of $448.45 and a 52-week high of $1,181.95. The company has a 50 day moving average of $974.20 and a two-hundred day moving average of $788.53. The company has a market capitalization of $280.95 billion, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 3.84 and a beta of 1.51.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter last year, the company earned $0.91 earnings per share. GE Vernova’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, analysts forecast that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be given a $0.50 dividend. The ex-dividend date of this dividend 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 5.83%.

Insider Transactions at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the 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 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 $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

GEV has been the topic of several recent research reports. Wall Street Zen upgraded shares of GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. TD Cowen upped their target price on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Argus set a $1,300.00 target price on shares of GE Vernova in a report on Monday, April 27th. BNP Paribas Exane lowered shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price on the stock. in a report on Monday, April 27th. Finally, Weiss Ratings upgraded shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,090.76.

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.