Kingdom Financial Group LLC. Purchases New Position in GE Vernova Inc. $GEV

Kingdom Financial Group LLC. acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 485 shares of the company’s stock, valued at approximately $317,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of GE Vernova by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after buying an additional 208,162 shares during the last quarter. State Street Corp raised its position in GE Vernova by 1.3% in the 3rd quarter. State Street Corp now owns 11,238,278 shares of the company’s stock valued at $6,910,417,000 after buying an additional 140,500 shares during the last quarter. Northern Trust Corp raised its position in GE Vernova by 1.8% in the 3rd quarter. Northern Trust Corp now owns 2,877,458 shares of the company’s stock valued at $1,769,349,000 after buying an additional 51,738 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in GE Vernova by 5,171.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock valued at $1,603,114,000 after acquiring an additional 2,406,326 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in GE Vernova by 7.1% during the 3rd quarter. Invesco Ltd. now owns 2,375,738 shares of the company’s stock valued at $1,460,841,000 after acquiring an additional 158,481 shares in the last quarter.

GE Vernova Trading Up 2.0%

Shares of GE Vernova stock opened at $1,045.50 on Friday. The stock has a market capitalization of $280.95 billion, a P/E ratio of 30.45, a P/E/G ratio of 3.84 and a beta of 1.51. GE Vernova Inc. has a 52-week low of $448.45 and a 52-week high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The stock’s 50-day simple moving average is $974.20 and its 200 day simple moving average is $788.53.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating 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 business had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same period in the previous year, the business earned $0.91 EPS. GE Vernova’s revenue was up 17.0% compared to the same quarter last year. As a group, research analysts anticipate that GE Vernova Inc. will post 14.84 EPS for the current year.

GE Vernova Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. BNP Paribas Exane lowered shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price for the company. in a research note on Monday, April 27th. Robert W. Baird raised their price target on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Zacks Research cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,328.00 price objective on shares of GE Vernova in a research report on Friday, April 24th. Finally, Weiss Ratings raised shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,090.76.

Insider Buying and Selling at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’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 sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.

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.