WealthShield Partners LLC Acquires 4,179 Shares of GE Vernova Inc. $GEV

WealthShield Partners LLC grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 693.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 4,782 shares of the company’s stock after acquiring an additional 4,179 shares during the quarter. WealthShield Partners LLC’s holdings in GE Vernova were worth $4,174,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GEV. World Investment Advisors increased its holdings in shares of GE Vernova by 19.9% in the 4th quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after acquiring an additional 2,241 shares during the period. Merit Financial Group LLC lifted its stake in shares of GE Vernova by 17.4% during the 4th quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock worth $9,856,000 after purchasing an additional 2,230 shares during the last quarter. Vest Financial LLC boosted its position in GE Vernova by 56.7% during the fourth quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock valued at $43,260,000 after purchasing an additional 23,956 shares in the last quarter. Riverbend Wealth Management LLC bought a new stake in GE Vernova during the fourth quarter valued at about $567,000. Finally, RiverFront Investment Group LLC grew its stake in GE Vernova by 239.2% in the fourth quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock valued at $1,432,000 after purchasing an additional 1,545 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have commented on GEV. TD Cowen boosted their target price on shares of GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Barclays lifted 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 report on Thursday, April 23rd. Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a research note on Thursday, April 23rd. Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Sanford C. Bernstein started coverage on shares of GE Vernova in a research note on Tuesday, June 16th. They issued an “outperform” rating and a $1,206.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,089.88.

Insider Buying and Selling at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction dated 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 completion of the sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by corporate insiders.

GE Vernova Stock Up 1.4%

Shares of GEV stock traded up $15.38 during trading hours on Friday, reaching $1,090.64. 1,737,069 shares of the company’s stock were exchanged, compared to its average volume of 2,887,361. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94. 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 cap of $293.08 billion, a PE ratio of 31.77, a PEG ratio of 3.97 and a beta of 1.09. The stock’s fifty day moving average price is $1,040.14 and its two-hundred day moving average price is $895.32.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. GE Vernova’s revenue was up 17.0% compared to the same quarter last year. Research analysts predict that GE Vernova Inc. will post 15.06 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. Stockholders of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is 5.83%.

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.