Ibex Wealth Advisors Acquires 5,786 Shares of GE Vernova Inc. $GEV

Ibex Wealth Advisors boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 122.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,513 shares of the company’s stock after purchasing an additional 5,786 shares during the quarter. Ibex Wealth Advisors’ holdings in GE Vernova were worth $9,177,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GEV. Auto Owners Insurance Co increased its holdings in GE Vernova by 110,973.4% in the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after acquiring an additional 34,826,773 shares during the last quarter. Norges Bank purchased a new stake in GE Vernova in the 4th quarter worth $2,283,114,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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 purchasing an additional 2,406,326 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of GE Vernova by 2,802.8% during the 4th quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock valued at $1,051,407,000 after purchasing an additional 1,553,295 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of GE Vernova by 170.0% during the third quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company’s stock valued at $722,956,000 after purchasing an additional 740,339 shares in the last quarter.

Analyst Ratings Changes

GEV has been the topic of several research reports. Barclays lifted their target price on GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. raised their price target on GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Wells Fargo & Company lifted their price objective on GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Wall Street Zen cut GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Argus set a $1,300.00 target price on GE Vernova in a research report on Monday, April 27th. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,089.88.

GE Vernova Stock Performance

NYSE GEV opened at $1,073.77 on Friday. The company has a market cap of $288.54 billion, a P/E ratio of 31.28, a P/E/G ratio of 3.95 and a beta of 1.09. The business’s 50 day moving average price is $1,039.56 and its 200-day moving average price is $893.94. GE Vernova Inc. has a fifty-two week low of $520.00 and a fifty-two week high of $1,195.94. 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 (NYSE:GEV) last announced its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. The business had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Sell-side analysts predict that GE Vernova Inc. will post 15.05 earnings per share for the current year.

GE Vernova Announces Dividend

The company 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 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s dividend payout ratio is 5.83%.

Insider Transactions at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’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 completion of the sale, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

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.