NFJ Investment Group LLC Takes Position in GE Vernova Inc. $GEV

NFJ Investment Group LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 779 shares of the company’s stock, valued at approximately $509,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. RFG Advisory LLC grew its stake in shares of GE Vernova by 2.1% during the fourth quarter. RFG Advisory LLC now owns 634 shares of the company’s stock valued at $414,000 after buying an additional 13 shares during the last quarter. BlackDiamond Wealth Management LLC grew its stake in shares of GE Vernova by 2.8% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company’s stock valued at $308,000 after buying an additional 13 shares during the last quarter. Apriem Advisors grew its stake in shares of GE Vernova by 0.7% during the fourth quarter. Apriem Advisors now owns 2,124 shares of the company’s stock valued at $1,388,000 after buying an additional 14 shares during the last quarter. Voisard Asset Management Group Inc. grew its stake in shares of GE Vernova by 2.7% during the fourth quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company’s stock valued at $376,000 after buying an additional 15 shares during the last quarter. Finally, Clean Yield Group grew its stake in shares of GE Vernova by 2.2% during the fourth quarter. Clean Yield Group now owns 685 shares of the company’s stock valued at $448,000 after buying an additional 15 shares during the last quarter.

GE Vernova Stock Performance

GE Vernova stock opened at $940.14 on Monday. 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 firm has a 50-day moving average of $1,008.85 and a 200-day moving average of $833.50. The firm has a market cap of $252.63 billion, a P/E ratio of 27.39, a P/E/G ratio of 3.49 and a beta of 1.24. GE Vernova Inc. has a 1-year low of $474.21 and a 1-year high of $1,181.95.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. The company had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. GE Vernova’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. Sell-side analysts expect that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be issued a $0.50 dividend. 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 5.83%.

Insider Activity

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction dated 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 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 disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,328.00 price objective on shares of GE Vernova in a research note on Friday, April 24th. Susquehanna set a $1,300.00 price objective on GE Vernova in a research note on Thursday, April 23rd. Erste Group Bank upgraded shares of GE Vernova to a “strong-buy” rating in a report on Tuesday, March 24th. Guggenheim increased their target price on shares of GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Finally, Morgan Stanley increased their target price on shares of GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $1,085.16.

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.