Everhart Financial Group Inc. Sells 562 Shares of GE Vernova Inc. $GEV

Everhart Financial Group Inc. cut its holdings in GE Vernova Inc. (NYSE:GEV) by 9.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,097 shares of the company’s stock after selling 562 shares during the quarter. Everhart Financial Group Inc.’s holdings in GE Vernova were worth $5,989,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. World Investment Advisors lifted its holdings in shares of GE Vernova by 19.9% in the fourth quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after purchasing an additional 2,241 shares in the last quarter. Merit Financial Group LLC grew its holdings in shares of GE Vernova by 17.4% during the fourth quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock worth $9,856,000 after buying an additional 2,230 shares in the last quarter. Riverbend Wealth Management LLC bought a new position in shares of GE Vernova during the fourth quarter worth about $567,000. Vest Financial LLC raised its position in GE Vernova by 56.7% in the 4th quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock valued at $43,260,000 after buying an additional 23,956 shares during the last quarter. Finally, RiverFront Investment Group LLC raised its position in GE Vernova by 239.2% in the 4th quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock valued at $1,432,000 after buying an additional 1,545 shares during the last quarter.

Insider Buying and Selling

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction 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 transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Citigroup upped 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. BNP Paribas Exane downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective on the stock. in a report on Monday, April 27th. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Mizuho boosted their price objective on shares of GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Finally, Argus set a $1,300.00 target price on shares of GE Vernova in a report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $1,133.15.

GE Vernova Price Performance

NYSE:GEV opened at $990.15 on Friday. GE Vernova Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94. The company has a market cap of $263.71 billion, a P/E ratio of 28.34, a P/E/G ratio of 3.53 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The stock’s 50-day simple moving average is $1,026.62 and its 200 day simple moving average is $945.18.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period last year, the company posted $1.86 earnings per share. As a group, sell-side analysts forecast that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is currently 5.72%.

GE Vernova Company 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.