GE Vernova Inc. $GEV Shares Acquired by Keybank National Association OH

by · The Cerbat Gem

Keybank National Association OH increased its stake in shares of GE Vernova Inc. (NYSE:GEVFree Report) by 6.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,396 shares of the company’s stock after buying an additional 1,845 shares during the quarter. Keybank National Association OH’s holdings in GE Vernova were worth $28,278,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Cornerstone Financial Management LLC purchased a new position in shares of GE Vernova in the 4th quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new stake in shares of GE Vernova during the third quarter worth approximately $25,000. Torren Management LLC purchased a new stake in shares of GE Vernova during the fourth quarter worth approximately $26,000. ORG Wealth Partners LLC lifted its holdings in shares of GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after purchasing an additional 29 shares during the period. Finally, Navalign LLC acquired a new stake in shares of GE Vernova during the fourth quarter worth $27,000.

Wall Street Analyst Weigh In

A number of brokerages have commented on GEV. Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a research report on Thursday, April 23rd. Argus set a $1,300.00 target price on shares of GE Vernova in a report on Monday, April 27th. Morgan Stanley boosted their price target on shares of GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. Barclays increased their price target on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Finally, Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and lifted their price objective for the company from $560.00 to $1,100.00 in a report on Monday, March 9th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,089.88.

View Our Latest Stock Report on GEV

GE Vernova Price Performance

Shares of NYSE GEV opened at $1,113.43 on Friday. 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 Inc. has a one year low of $506.02 and a one year high of $1,181.95. The firm has a market capitalization of $299.20 billion, a P/E ratio of 32.43, a PEG ratio of 4.11 and a beta of 1.09. The company’s fifty day moving average is $1,042.04 and its two-hundred day moving average is $879.98.

GE Vernova (NYSE:GEVGet Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter last year, the firm posted $0.91 EPS. The business’s revenue was up 17.0% compared to the same quarter last year. Analysts forecast that GE Vernova Inc. will post 15.05 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 5.83%.

Insider Buying and Selling

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their position. The transaction 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 firm’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 completion of the transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by company insiders.

Key Headlines Impacting GE Vernova

Here are the key news stories impacting GE Vernova this week:

GE Vernova Profile

(Free Report)

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.

Further Reading

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