Rehmann Capital Advisory Group Purchases 647 Shares of GE Vernova Inc. $GEV

Rehmann Capital Advisory Group grew its position in GE Vernova Inc. (NYSE:GEV) by 49.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,965 shares of the company’s stock after purchasing an additional 647 shares during the quarter. Rehmann Capital Advisory Group’s holdings in GE Vernova were worth $1,284,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in GEV. Brighton Jones LLC lifted its holdings in GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after purchasing an additional 753 shares during the last quarter. Schnieders Capital Management LLC. grew its holdings in GE Vernova by 1.7% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after buying an additional 26 shares in the last quarter. Jump Financial LLC acquired a new position in GE Vernova in the 2nd quarter valued at $258,000. Ossiam bought a new position in GE Vernova during the 2nd quarter worth $42,000. Finally, Nebula Research & Development LLC increased its position in GE Vernova by 23.9% during the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock worth $886,000 after buying an additional 323 shares during the period.

GE Vernova Stock Performance

GEV opened at $1,111.65 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 $479.04 and a 52-week high of $1,181.95. The firm has a market cap of $298.72 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 4.11 and a beta of 1.23. The business’s fifty day moving average is $1,022.78 and its 200-day moving average is $847.85.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $9.19 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. GE Vernova’s revenue for the quarter was up 17.0% compared to the same quarter last year. Sell-side analysts expect that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced 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. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s dividend payout ratio (DPR) is currently 5.83%.

Insider Activity

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s 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 transaction, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the sale, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GEV. Robert W. Baird lifted their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Zacks Research downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. BMO Capital Markets raised their price target on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. TD Cowen lifted their price objective on shares of GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Finally, Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a report on Thursday, April 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,089.88.

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.