Key Points
- GE Vernova CAO Matthew Joseph Potvin sold 2,333 shares on May 14 at an average price of $1,059.09, totaling about $2.47 million. After the sale, he still held 3,549 shares, reducing his stake by 39.66%.
- The stock slipped 3.4% and opened at $1,013.61, even though it remains well above its 50-day and 200-day moving averages. GE Vernova has traded between $421.64 and $1,181.95 over the past year.
- Recent results and analyst sentiment remain strong: the company reported quarterly EPS of $17.44, far above estimates, and revenue rose 17% year over year. Analysts currently rate the stock a consensus “Moderate Buy,” with an average price target of $1,090.76.
GE Vernova Inc. (NYSE:GEV - Get Free Report) CAO Matthew Joseph Potvin sold 2,333 shares of the 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 transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
GE Vernova Stock Down 3.4%
Shares of NYSE:GEV opened at $1,013.61 on Tuesday. The firm has a 50 day simple moving average of $961.74 and a 200-day simple moving average of $779.07. GE Vernova Inc. has a twelve month low of $421.64 and a twelve month high of $1,181.95. 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 capitalization of $272.38 billion, a PE ratio of 29.53, a P/E/G ratio of 3.93 and a beta of 1.51.
GE Vernova (NYSE:GEV - Get Free Report) last posted 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 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 the consensus estimate of $9.19 billion. During the same period last year, the firm posted $0.91 EPS. The company's revenue was up 17.0% on a year-over-year basis. On average, equities analysts predict that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have recently commented on GEV. Barclays lifted their target price on GE Vernova from $993.00 to $1,250.00 and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. The Goldman Sachs Group reaffirmed a "buy" rating and set a $1,328.00 price target on shares of GE Vernova in a research report on Friday, April 24th. Rothschild & Co Redburn raised GE Vernova from a "sell" rating to a "buy" rating and increased their price objective for the company from $560.00 to $1,100.00 in a report on Monday, March 9th. Zacks Research lowered shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Finally, BNP Paribas Exane cut shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 target price on the stock. in a report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and an average price target of $1,090.76.
Read Our Latest Stock Analysis on GE Vernova
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the stock. J.W. Cole Advisors Inc. raised its stake in shares of GE Vernova by 25.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company's stock worth $9,990,000 after buying an additional 3,278 shares during the last quarter. World Investment Advisors increased its holdings in GE Vernova by 19.9% during the 4th quarter. World Investment Advisors now owns 13,497 shares of the company's stock valued at $8,821,000 after acquiring an additional 2,241 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in GE Vernova during the third quarter worth about $18,601,000. US Bancorp DE raised its position in GE Vernova by 2.2% during the third quarter. US Bancorp DE now owns 100,542 shares of the company's stock worth $61,824,000 after acquiring an additional 2,163 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of GE Vernova by 0.6% in the third quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company's stock valued at $15,259,028,000 after purchasing an additional 150,892 shares in the last quarter.
GE Vernova Company Profile
(
Get 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.
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