ABN AMRO Bank N.V. Buys 3,339 Shares of GE Vernova Inc. $GEV

Key Points

• ABN AMRO Bank N.V. increased its GE Vernova stake by 2.2% in the first quarter, buying 3,339 shares and bringing its total holding to 154,801 shares valued at about $133.4 million.
• Several analysts remain bullish on GE Vernova, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus rating and an average target price of $1,089.88.
• GE Vernova reported strong quarterly results, including EPS of $17.44 versus expectations of $1.95 and revenue of $9.34 billion, while also announcing a quarterly dividend of $0.50 per share.

ABN AMRO Bank N.V. grew its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 154,801 shares of the company's stock after acquiring an additional 3,339 shares during the quarter. GE Vernova comprises about 1.4% of ABN AMRO Bank N.V.'s investment portfolio, making the stock its 26th biggest holding. ABN AMRO Bank N.V. owned 0.06% of GE Vernova worth $133,406,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Bell Investment Advisors Inc grew its position in GE Vernova by 5.2% in the 1st quarter. Bell Investment Advisors Inc now owns 221 shares of the company's stock worth $193,000 after purchasing an additional 11 shares during the period. Sky Investment Group LLC increased its position in GE Vernova by 0.5% during the first quarter. Sky Investment Group LLC now owns 2,405 shares of the company's stock valued at $2,099,000 after acquiring an additional 12 shares during the last quarter. Hilton Head Capital Partners LLC increased its position in GE Vernova by 2.6% during the first quarter. Hilton Head Capital Partners LLC now owns 476 shares of the company's stock valued at $416,000 after acquiring an additional 12 shares during the last quarter. Mayfair Advisory Group LLC lifted its holdings in GE Vernova by 2.8% in the first quarter. Mayfair Advisory Group LLC now owns 445 shares of the company's stock valued at $388,000 after acquiring an additional 12 shares during the period. Finally, RFG Advisory LLC lifted its holdings in GE Vernova by 2.1% in the fourth quarter. RFG Advisory LLC now owns 634 shares of the company's stock valued at $414,000 after acquiring an additional 13 shares during the period.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent research reports. Sanford C. Bernstein started coverage on GE Vernova in a research note on Tuesday, June 16th. They set an "outperform" rating and a $1,206.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th. Robert W. Baird raised their price objective on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Guggenheim boosted their target price on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Finally, Oppenheimer set a $1,303.00 target price on shares of GE Vernova in a report on Thursday, April 23rd. Three 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 company's stock. According to data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and an average target price of $1,089.88.

Insider Buying and Selling at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the company'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 owned 3,549 shares of the company's stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Victor Abate sold 4,819 shares of the 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 completion of the sale, the chief executive officer owned 1,835 shares of the company's stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company's stock.

GE Vernova Stock Down 3.7%

GEV stock opened at $1,045.74 on Friday. GE Vernova Inc. has a twelve month low of $482.20 and a twelve month high of $1,181.95. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The stock 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 business's 50-day moving average price is $1,031.16 and its 200-day moving average price is $863.97.

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

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's payout ratio is 5.83%.

GE Vernova 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.

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