Corps Capital Advisors LLC Purchases New Position in GE Vernova Inc. $GEV

Corps Capital Advisors LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 1,028 shares of the company’s stock, valued at approximately $672,000.

A number of other hedge funds also recently bought and sold shares of the business. US Bancorp DE boosted its position in GE Vernova by 2.2% during the 3rd quarter. US Bancorp DE now owns 100,542 shares of the company’s stock valued at $61,824,000 after acquiring an additional 2,163 shares in the last quarter. Vanguard Group Inc. boosted its position in GE Vernova by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock valued at $15,259,028,000 after acquiring an additional 150,892 shares in the last quarter. Varenne Capital Partners bought a new stake in GE Vernova during the 3rd quarter valued at approximately $4,872,000. Merit Financial Group LLC boosted its position in GE Vernova by 17.4% during the 4th quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock valued at $9,856,000 after acquiring an additional 2,230 shares in the last quarter. Finally, Stevens Capital Management LP boosted its position in GE Vernova by 56.0% during the 3rd quarter. Stevens Capital Management LP now owns 3,640 shares of the company’s stock valued at $2,238,000 after acquiring an additional 1,307 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have weighed in on GEV shares. Oppenheimer set a $1,303.00 price objective on GE Vernova in a research report on Thursday, April 23rd. Argus set a $1,300.00 price target on GE Vernova in a research report on Monday, April 27th. Guggenheim boosted their price target on GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and boosted their price target for the stock from $560.00 to $1,100.00 in a research report on Monday, March 9th. Finally, Royal Bank Of Canada boosted their price target on GE Vernova from $996.00 to $1,195.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Two 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 company. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,085.16.

Insider Activity at GE Vernova

In related news, 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 value of $4,568,797.52. Following the transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’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 $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

GE Vernova Stock Performance

Shares of GEV opened at $940.14 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average price is $1,008.85 and its 200-day moving average price is $831.73. GE Vernova Inc. has a 52 week low of $474.21 and a 52 week high of $1,181.95. The stock has a market cap of $252.63 billion, a P/E ratio of 27.39, a P/E/G ratio of 3.36 and a beta of 1.23.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping 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 firm had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the previous year, the firm posted $0.91 EPS. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. Equities research analysts anticipate that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is 5.83%.

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.