Stenger Family Office LLC Purchases New Position in GE Vernova Inc. $GEV

by · The Markets Daily

Stenger Family Office LLC purchased a new stake in GE Vernova Inc. (NYSE:GEVFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,098 shares of the company’s stock, valued at approximately $718,000.

Several other hedge funds have also bought and sold shares of GEV. RFG Advisory LLC increased its holdings in shares of GE Vernova by 2.1% during the 4th quarter. RFG Advisory LLC now owns 634 shares of the company’s stock valued at $414,000 after purchasing an additional 13 shares in the last quarter. BlackDiamond Wealth Management LLC boosted its holdings in GE Vernova by 2.8% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company’s stock worth $308,000 after buying an additional 13 shares in the last quarter. First Commonwealth Financial Corp PA grew its position in GE Vernova by 3.5% during the fourth quarter. First Commonwealth Financial Corp PA now owns 380 shares of the company’s stock valued at $248,000 after buying an additional 13 shares during the period. Apriem Advisors grew its position in GE Vernova by 0.7% during the fourth quarter. Apriem Advisors now owns 2,124 shares of the company’s stock valued at $1,388,000 after buying an additional 14 shares during the period. Finally, Voisard Asset Management Group Inc. increased its holdings in GE Vernova by 2.7% in the fourth quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company’s stock valued at $376,000 after buying an additional 15 shares in the last quarter.

GE Vernova Stock Performance

NYSE:GEV opened at $1,111.65 on Friday. The company’s 50-day moving average price is $1,022.78 and its 200-day moving average price is $847.85. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The company has a market cap of $298.72 billion, a P/E ratio of 32.38, a P/E/G ratio of 4.11 and a beta of 1.23. GE Vernova Inc. has a twelve month low of $479.04 and a twelve month high of $1,181.95.

GE Vernova (NYSE:GEVGet Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the previous year, the business posted $0.91 earnings per share. GE Vernova’s quarterly revenue was up 17.0% on a year-over-year basis. On average, sell-side analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Analyst Ratings Changes

GEV has been the topic of several research analyst reports. Citigroup raised their price objective on GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a report on Monday, April 13th. Oppenheimer set a $1,303.00 target price on GE Vernova in a research note on Thursday, April 23rd. JPMorgan Chase & Co. increased their target price on GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. BMO Capital Markets lifted their price target on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Finally, Weiss Ratings raised shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,089.88.

Check Out Our Latest Research Report on GEV

Insider Activity at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the business’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 transaction, the chief executive officer directly 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 SEC, which is available at this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

GE Vernova Company Profile

(Free Report)

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.

Featured Stories