Maridea Wealth Management LLC Takes $1.43 Million Position in GE Vernova Inc. $GEV

Maridea Wealth Management LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,632 shares of the company’s stock, valued at approximately $1,425,000.

A number of other large investors have also recently made changes to their positions in the company. Laurel Oak Wealth Management LLC grew its holdings in GE Vernova by 20.3% during the 1st quarter. Laurel Oak Wealth Management LLC now owns 414 shares of the company’s stock worth $361,000 after acquiring an additional 70 shares in the last quarter. Crown Wealth Group LLC acquired a new stake in shares of GE Vernova in the 1st quarter valued at $256,000. Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of GE Vernova by 2.9% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,654 shares of the company’s stock worth $1,444,000 after purchasing an additional 47 shares during the last quarter. Fullerton Advisors LLC purchased a new stake in shares of GE Vernova during the 1st quarter worth $236,000. Finally, Welch Group LLC grew its stake in shares of GE Vernova by 46.7% during the first quarter. Welch Group LLC now owns 801 shares of the company’s stock worth $699,000 after purchasing an additional 255 shares in the last quarter.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $1,045.74 on Friday. GE Vernova Inc. has a one year low of $482.20 and a one year high of $1,181.95. The stock has a market capitalization of $281.01 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 4.02 and a beta of 1.23. The company has a 50-day simple moving average of $1,031.16 and a 200-day simple moving average of $863.97. 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 (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. The firm had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business’s revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company posted $0.91 earnings per share. On average, analysts predict that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

The business also recently announced 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 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 presently 5.83%.

Wall Street Analysts Forecast Growth

GEV has been the topic of several recent analyst reports. Royal Bank Of Canada increased their target price on GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. TD Cowen upped their price objective on GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Argus set a $1,300.00 price objective on GE Vernova in a report on Monday, April 27th. JPMorgan Chase & Co. upped their price target on GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Finally, Sanford C. Bernstein initiated coverage on shares of GE Vernova in a research note on Tuesday, June 16th. They issued an “outperform” rating and a $1,206.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,089.88.

Insider Activity at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the 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 sale, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by corporate 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.