Metis Global Partners LLC Sells 650 Shares of GE Vernova Inc. $GEV

Metis Global Partners LLC lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,772 shares of the company’s stock after selling 650 shares during the quarter. Metis Global Partners LLC’s holdings in GE Vernova were worth $7,040,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in GE Vernova by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock worth $16,354,691,000 after buying an additional 208,162 shares during the period. State Street Corp raised its stake in GE Vernova by 1.3% during the 3rd quarter. State Street Corp now owns 11,238,278 shares of the company’s stock worth $6,910,417,000 after buying an additional 140,500 shares during the period. Geode Capital Management LLC raised its stake in GE Vernova by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock worth $4,074,039,000 after buying an additional 68,894 shares during the period. Norges Bank acquired a new stake in GE Vernova during the 4th quarter worth $2,283,114,000. Finally, Northern Trust Corp raised its stake in GE Vernova by 1.8% during the 3rd quarter. Northern Trust Corp now owns 2,877,458 shares of the company’s stock worth $1,769,349,000 after buying an additional 51,738 shares during the period.

GE Vernova Stock Performance

GEV opened at $866.63 on Thursday. The business’s 50-day moving average price is $1,007.32 and its two-hundred day moving average price is $828.51. GE Vernova Inc. has a 1 year low of $464.00 and a 1 year high of $1,181.95. The company has a market capitalization of $232.88 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of 3.41 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating 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 last year, the business posted $0.91 EPS. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. Equities analysts expect that GE Vernova Inc. will post 14.99 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. Investors of record on Tuesday, June 16th will be given 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 dividend yield of 0.2%. GE Vernova’s payout ratio is currently 5.83%.

More GE Vernova News

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

• Positive Sentiment: GE Vernova was highlighted as a potential beneficiary of the U.S. Department of Energy setting a timeline for fusion energy development, which could lift sentiment around the company’s long-term role in advanced power generation and grid infrastructure. Article Title
• Neutral Sentiment: Recent coverage also noted that GEV had already been trading lower in the previous session, suggesting some near-term momentum loss before today’s move. Article Title
• Neutral Sentiment: Broader market headlines about futures moving on geopolitical tensions and oil volatility may also be contributing to a risk-off tone, but they are not specific to GE Vernova’s fundamentals. Article Title

Wall Street Analysts Forecast Growth

GEV has been the topic of several research analyst reports. Barclays raised their price objective on GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. BNP Paribas Exane downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective on the stock. in a research note on Monday, April 27th. Guggenheim raised their price objective on GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. BMO Capital Markets lifted their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Finally, Erste Group Bank raised GE Vernova to a “strong-buy” rating in a research note on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,090.76.

Insider Transactions at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction dated 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 of the company’s stock, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction dated 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 sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by insiders.

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.