Main Street Research LLC Acquires 520 Shares of GE Vernova Inc. $GEV

Main Street Research LLC lifted its position in GE Vernova Inc. (NYSE:GEV) by 1.1% during the 4th quarter, HoldingsChannel reports. The firm owned 49,161 shares of the company’s stock after acquiring an additional 520 shares during the quarter. GE Vernova accounts for about 1.8% of Main Street Research LLC’s investment portfolio, making the stock its 28th largest holding. Main Street Research LLC’s holdings in GE Vernova were worth $32,130,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GEV. Jackson Grant Investment Advisers Inc. increased its holdings in shares of GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the last quarter. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova in the third quarter worth about $25,000. Torren Management LLC bought a new stake in shares of GE Vernova in the fourth quarter worth about $26,000. ORG Wealth Partners LLC increased its holdings in shares of GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after purchasing an additional 29 shares during the last quarter. Finally, Navalign LLC bought a new stake in shares of GE Vernova in the fourth quarter worth about $27,000.

Insider Activity

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’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 completion of the transaction, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on GEV. Argus set a $1,300.00 target price on GE Vernova in a report on Monday, April 27th. UBS Group reaffirmed a “buy” rating on shares of GE Vernova in a report on Thursday, January 29th. Wall Street Zen upgraded GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. TD Cowen lifted their price target on GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, Susquehanna set a $1,300.00 price target on GE Vernova in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $1,090.76.

GE Vernova Trading Up 0.1%

GEV opened at $1,039.71 on Monday. The firm has a market cap of $279.39 billion, a P/E ratio of 30.29, a P/E/G ratio of 3.89 and a beta of 1.51. GE Vernova Inc. has a 12 month low of $458.65 and a 12 month high of $1,181.95. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average of $978.06 and a 200 day moving average of $791.75.

GE Vernova (NYSE:GEV) last announced its earnings results 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 return on equity of 43.97% and a net margin of 23.81%.The business had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the previous year, the business earned $0.91 earnings per share. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, research analysts forecast that GE Vernova Inc. will post 14.84 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s payout ratio is 5.83%.

GE Vernova 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.