Franklin Street Advisors Inc. NC Grows Position in GE Vernova Inc. $GEV

Franklin Street Advisors Inc. NC increased its holdings in GE Vernova Inc. (NYSE:GEV) by 8.5% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 26,977 shares of the company’s stock after buying an additional 2,113 shares during the quarter. GE Vernova comprises approximately 1.8% of Franklin Street Advisors Inc. NC’s portfolio, making the stock its 16th biggest position. Franklin Street Advisors Inc. NC’s holdings in GE Vernova were worth $31,694,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova in the third quarter worth approximately $25,000. Cornerstone Financial Management LLC bought a new position in GE Vernova during the fourth quarter valued at approximately $25,000. Torren Management LLC bought a new position in GE Vernova during the fourth quarter valued at approximately $26,000. Manning & Napier Advisors LLC boosted 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 worth $26,000 after purchasing an additional 13 shares during the last quarter. Finally, Navalign LLC purchased a new stake in GE Vernova in the fourth quarter worth approximately $27,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GEV shares. Oppenheimer lifted their target price on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. BNP Paribas Exane cut GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target on the stock. in a report on Monday, April 27th. Zacks Research downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Argus set a $1,300.00 price objective on GE Vernova in a report on Monday, April 27th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of GE Vernova in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,133.15.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $990.15 on Monday. The firm has a 50 day moving average of $1,026.62 and a 200 day moving average of $947.04. 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 firm has a market capitalization of $263.71 billion, a price-to-earnings ratio of 28.34, a price-to-earnings-growth ratio of 3.53 and a beta of 1.21. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94.

GE Vernova (NYSE:GEV) last announced its earnings results 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 net margin of 23.03% and a return on equity of 42.42%. The business had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. During the same period in the prior year, the company posted $1.86 earnings per share. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. On average, research analysts anticipate that GE Vernova Inc. will post 15.57 earnings per share for the current year.

GE Vernova Announces Dividend

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

Insider Buying and Selling 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 stock was 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 approximately $3,758,710.41. This trade represents a 39.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction 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 in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

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.