Patriot Financial Group Insurance Agency LLC Acquires 3,560 Shares of GE Vernova Inc. $GEV

Patriot Financial Group Insurance Agency LLC grew its holdings in GE Vernova Inc. (NYSE:GEV) by 96.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,232 shares of the company’s stock after buying an additional 3,560 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in GE Vernova were worth $6,313,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its position in shares of GE Vernova by 12.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 98,296 shares of the company’s stock valued at $85,803,000 after buying an additional 10,623 shares in the last quarter. J. L. Bainbridge & Co. Inc. lifted its holdings in shares of GE Vernova by 2.5% in the 1st quarter. J. L. Bainbridge & Co. Inc. now owns 527 shares of the company’s stock valued at $460,000 after acquiring an additional 13 shares during the last quarter. AGH Wealth Advisors LLC purchased a new position in GE Vernova in the first quarter worth about $250,000. Cornerstone Wealth Group LLC grew its position in GE Vernova by 8.4% in the first quarter. Cornerstone Wealth Group LLC now owns 1,433 shares of the company’s stock worth $1,251,000 after acquiring an additional 111 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC increased its stake in GE Vernova by 1.3% during the first quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock worth $635,000 after acquiring an additional 9 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barclays upped their price objective on GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. BMO Capital Markets boosted their target price on GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. The Goldman Sachs Group restated a “buy” rating and set a $1,328.00 price target on shares of GE Vernova in a report on Friday, April 24th. Citigroup raised their price target on GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. Finally, Zacks Research lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,089.88.

GE Vernova Stock Down 3.7%

Shares of NYSE GEV opened at $1,045.74 on Friday. GE Vernova Inc. has a 1 year low of $482.20 and a 1 year high of $1,181.95. The firm has a 50-day simple moving average of $1,031.16 and a two-hundred day simple moving average of $863.97. The company has a market cap of $281.01 billion, a P/E ratio of 30.46, a PEG ratio of 3.87 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 earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $9.19 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 17.0% on a year-over-year basis. Research analysts anticipate that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Insider Buying and Selling at GE Vernova

In other GE Vernova news, 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 owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.