WESPAC Advisors SoCal LLC Sells 922 Shares of GE Vernova Inc. $GEV

WESPAC Advisors SoCal LLC lowered its holdings in GE Vernova Inc. (NYSE:GEV) by 14.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 5,302 shares of the company’s stock after selling 922 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in GE Vernova were worth $4,628,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GEV. Auto Owners Insurance Co increased its stake in GE Vernova by 110,973.4% in the fourth 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 during the fourth quarter valued at about $2,283,114,000. Northwestern Mutual Wealth Management Co. lifted its stake in GE Vernova by 5,171.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after purchasing an additional 2,406,326 shares during the last quarter. Capital World Investors lifted its stake in GE Vernova by 1,907.5% during the third quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after purchasing an additional 2,048,792 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in shares of GE Vernova by 2,802.8% in the 4th quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock worth $1,051,407,000 after purchasing an additional 1,553,295 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Jefferies Financial Group reduced their price objective on GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating on the stock in a research report on Thursday, June 11th. Oppenheimer set a $1,303.00 target price on GE Vernova in a research report on Thursday, April 23rd. Argus set a $1,300.00 target price on GE Vernova in a research note on Monday, April 27th. TD Cowen increased their price target on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Finally, Susquehanna set a $1,300.00 price target on shares of GE Vernova in a research report on Thursday, April 23rd. Three 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,089.88.

Insider Buying and Selling

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction 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 transaction, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This represents a 72.42% 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

NYSE GEV opened at $1,111.65 on Friday. The company has a 50-day simple moving average of $1,022.78 and a two-hundred day simple moving average of $847.85. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a 12-month low of $479.04 and a 12-month high of $1,181.95. The firm has a market cap of $298.72 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 4.11 and a beta of 1.23.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $9.19 billion. During the same quarter in the previous year, the business earned $0.91 earnings per share. The company’s quarterly revenue was up 17.0% on a year-over-year basis. On average, equities analysts forecast that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

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 paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. 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.