Cardano Risk Management B.V. Buys Shares of 89,517 GE Vernova Inc. $GEV

Cardano Risk Management B.V. bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 89,517 shares of the company’s stock, valued at approximately $105,170,000.

Other hedge funds have also made changes to their positions in the company. Manning & Napier Advisors LLC raised its holdings in GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after acquiring an additional 13 shares in the last quarter. Miller Global Investments LLC boosted its stake in GE Vernova by 63.6% during the 2nd quarter. Miller Global Investments LLC now owns 36 shares of the company’s stock valued at $42,000 after acquiring an additional 14 shares during the last quarter. Torren Management LLC acquired a new position in GE Vernova during the 4th quarter worth $26,000. Cornerstone Financial Management LLC acquired a new position in GE Vernova during the 4th quarter worth $25,000. Finally, Wealth Watch Advisors INC bought a new stake in shares of GE Vernova in the 3rd quarter worth about $25,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GEV. Zacks Research lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Robert W. Baird lifted their price target on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Barclays increased their target price on GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Guggenheim lifted their target price on GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Finally, Argus set a $1,300.00 target price on GE Vernova in a research report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $1,133.15.

GE Vernova Trading Down 1.0%

NYSE GEV opened at $990.15 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94. The company has a 50-day simple moving average of $1,026.62 and a 200-day simple moving average of $945.18. The firm has a market capitalization of $263.71 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 3.53 and a beta of 1.21.

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

GE Vernova Announces Dividend

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

Insider Buying and Selling

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The sale was disclosed in a document filed 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 that occurred on 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 transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at $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 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.