PVG Asset Management Corp Has $2.96 Million Holdings in GE Vernova Inc. $GEV

PVG Asset Management Corp grew its stake in GE Vernova Inc. (NYSE:GEV) by 345.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,389 shares of the company’s stock after purchasing an additional 2,629 shares during the quarter. GE Vernova comprises approximately 2.1% of PVG Asset Management Corp’s holdings, making the stock its 9th largest holding. PVG Asset Management Corp’s holdings in GE Vernova were worth $2,958,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GEV. Manning & Napier Advisors LLC increased its holdings in GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after purchasing an additional 13 shares during the last quarter. Torren Management LLC acquired a new position in GE Vernova in the fourth quarter valued at about $26,000. Cornerstone Financial Management LLC bought a new position in GE Vernova during the fourth quarter worth about $25,000. Wealth Watch Advisors INC bought a new position in GE Vernova during the third quarter worth about $25,000. Finally, Navalign LLC acquired a new position in shares of GE Vernova during the 4th quarter worth about $27,000.

Analysts Set New Price Targets

GEV has been the subject of a number of recent analyst reports. Citigroup upped their price target on GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Robert W. Baird boosted their price objective on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,328.00 target price on shares of GE Vernova in a research note on Friday, April 24th. TD Cowen increased their target price on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $1,133.15.

Insider Activity at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the business’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 completion of the sale, the chief executive officer directly owned 1,835 shares in the company, 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. 0.21% of the stock is owned by corporate insiders.

GE Vernova Trading Up 0.0%

NYSE GEV opened at $990.30 on Monday. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The firm has a market cap of $263.75 billion, a P/E ratio of 28.34, a P/E/G ratio of 3.56 and a beta of 1.09. The stock’s 50-day moving average is $1,028.05 and its 200-day moving average is $934.82.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same quarter in the prior year, the firm posted $1.86 earnings per share. GE Vernova’s revenue for the quarter was up 21.9% compared to the same quarter last year. Sell-side analysts anticipate that GE Vernova Inc. will post 15.46 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

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.