KMG Fiduciary Partners LLC Has $2.11 Million Stock Holdings in GE Vernova Inc. $GEV

KMG Fiduciary Partners LLC boosted its position in GE Vernova Inc. (NYSE:GEV) by 564.4% during the second quarter, HoldingsChannel.com reports. The fund owned 1,794 shares of the company’s stock after buying an additional 1,524 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in GE Vernova were worth $2,108,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova during the 3rd quarter worth $25,000. Cornerstone Financial Management LLC bought a new position in GE Vernova in the fourth quarter valued at about $25,000. Torren Management LLC acquired a new position in GE Vernova during the fourth quarter worth about $26,000. Manning & Napier Advisors LLC raised its stake in GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after acquiring an additional 13 shares in the last quarter. Finally, Navalign LLC bought a new position in shares of GE Vernova in the fourth quarter worth about $27,000.

GE Vernova Trading Down 0.2%

Shares of GEV stock opened at $988.37 on Tuesday. 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 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The stock has a market cap of $263.23 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 3.53 and a beta of 1.21. The stock has a 50-day moving average of $1,027.37 and a 200-day moving average of $949.18.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same period in the prior year, the firm earned $1.86 earnings per share. GE Vernova’s revenue was up 21.9% compared to the same quarter last year. On average, equities research analysts forecast that GE Vernova Inc. will post 15.57 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 5.72%.

Insider Buying and Selling

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction 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 transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This 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 currently owned by insiders.

Wall Street Analyst Weigh In

GEV has been the topic of a number of research analyst reports. TD Cowen raised their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada upped their price objective on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Oppenheimer increased their price objective on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Robert W. Baird raised their target price 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. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of GE Vernova in a research note on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $1,133.15.

About GE Vernova

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.