Corps Capital Advisors LLC Acquires New Stake in GE Vernova Inc. $GEV

Corps Capital Advisors LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,028 shares of the company’s stock, valued at approximately $672,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Boston Family Office LLC bought a new stake in GE Vernova during the fourth quarter worth about $537,000. Saxon Interests Inc. lifted its stake in GE Vernova by 4.0% during the fourth quarter. Saxon Interests Inc. now owns 518 shares of the company’s stock worth $339,000 after purchasing an additional 20 shares during the last quarter. Ieq Capital LLC lifted its stake in GE Vernova by 12.9% during the fourth quarter. Ieq Capital LLC now owns 91,537 shares of the company’s stock worth $59,825,000 after purchasing an additional 10,454 shares during the last quarter. First National Bank of Omaha lifted its stake in GE Vernova by 90.1% during the fourth quarter. First National Bank of Omaha now owns 1,863 shares of the company’s stock worth $1,223,000 after purchasing an additional 883 shares during the last quarter. Finally, Alchemi Wealth LLC bought a new stake in GE Vernova during the fourth quarter worth about $474,000.

Insider Activity

In related news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction 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. The trade was a 72.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction dated 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 owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GEV shares. Royal Bank Of Canada lifted their price target on GE Vernova from $996.00 to $1,195.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and lifted their price target for the stock from $560.00 to $1,100.00 in a research note on Monday, March 9th. Barclays lifted their price target 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. Morgan Stanley lifted their price target on GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. Finally, Jefferies Financial Group decreased their price objective on GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating on the stock in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $1,085.16.

GE Vernova Stock Up 3.7%

GEV opened at $940.14 on Friday. The company has a market cap of $252.63 billion, a P/E ratio of 27.39, a P/E/G ratio of 3.36 and a beta of 1.23. The business’s 50-day moving average price is $1,008.85 and its 200-day moving average price is $831.73. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a 12 month low of $474.21 and a 12 month high of $1,181.95.

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. The firm had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share. On average, equities analysts expect that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

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 issued a $0.50 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s payout ratio is currently 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.