Portus Wealth Advisors LLC Has $1.46 Million Stake in GE Vernova Inc. $GEV

Portus Wealth Advisors LLC raised its stake in GE Vernova Inc. (NYSE:GEV) by 132.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,677 shares of the company’s stock after acquiring an additional 954 shares during the period. GE Vernova comprises about 1.4% of Portus Wealth Advisors LLC’s investment portfolio, making the stock its 19th largest position. Portus Wealth Advisors LLC’s holdings in GE Vernova were worth $1,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova in the 3rd quarter worth about $25,000. Cornerstone Financial Management LLC bought a new position in GE Vernova during the 4th quarter valued at about $25,000. Torren Management LLC bought a new position in GE Vernova during the 4th quarter valued at about $26,000. ORG Wealth Partners LLC boosted its position in GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after buying an additional 29 shares in the last quarter. Finally, Navalign LLC acquired a new position in GE Vernova in the fourth quarter valued at about $27,000.

GE Vernova Trading Up 0.1%

GEV opened at $1,045.74 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 stock has a market capitalization of $281.01 billion, a PE ratio of 30.46, a PEG ratio of 3.87 and a beta of 1.24. GE Vernova Inc. has a 1-year low of $482.20 and a 1-year high of $1,181.95. The firm has a 50-day moving average price of $1,031.16 and a two-hundred day moving average price of $865.68.

GE Vernova (NYSE:GEV) last announced 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. 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 period in the previous year, the firm posted $0.91 earnings per share. The company’s revenue was up 17.0% on a year-over-year basis. As a group, equities analysts anticipate that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

Insider Activity at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction 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. This represents a 39.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction on 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 transaction, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on GEV. Barclays upped their price objective on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Jefferies Financial Group reduced their target price on GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating on the stock in a report on Thursday, June 11th. Guggenheim boosted their target price on GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Citigroup increased their price target on GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. Finally, Wells Fargo & Company raised their price target on GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Three 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 company’s stock. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $1,089.88.

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.