ABN Amro Investment Solutions Buys 10,008 Shares of GE Vernova Inc. $GEV

Key Points

• ABN Amro Investment Solutions increased its GE Vernova stake by 189% in the fourth quarter, buying 10,008 additional shares and bringing its total holding to 15,303 shares worth about $10.0 million.
• Several other institutional investors also boosted their positions in GE Vernova, including major increases from Northwestern Mutual Wealth Management, Capital World Investors, and Jennison Associates, signaling strong institutional interest.
• GE Vernova reported much stronger-than-expected quarterly results, with EPS of $17.44 and revenue of $9.34 billion, while analysts currently have a consensus Moderate Buy rating and an average price target of $1,090.76.

ABN Amro Investment Solutions lifted its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 189.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,303 shares of the company's stock after purchasing an additional 10,008 shares during the quarter. ABN Amro Investment Solutions' holdings in GE Vernova were worth $10,002,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its holdings in GE Vernova by 5,171.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company's stock worth $1,603,114,000 after acquiring an additional 2,406,326 shares during the last quarter. Capital World Investors grew its holdings in GE Vernova by 1,907.5% during the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company's stock worth $1,325,842,000 after acquiring an additional 2,048,792 shares during the last quarter. Franklin Resources Inc. grew its holdings in GE Vernova by 170.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company's stock worth $722,956,000 after acquiring an additional 740,339 shares during the last quarter. Jennison Associates LLC grew its holdings in GE Vernova by 1,300.4% during the 4th quarter. Jennison Associates LLC now owns 647,791 shares of the company's stock worth $423,377,000 after acquiring an additional 601,533 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in GE Vernova by 10,288.6% during the 4th quarter. SG Americas Securities LLC now owns 418,661 shares of the company's stock worth $273,624,000 after acquiring an additional 414,631 shares during the last quarter.

Insiders Place Their Bets

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction dated 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 trade represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on GEV. Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a research note on Thursday, April 23rd. Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a research note on Thursday, April 23rd. Guggenheim upped their price objective on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Zacks Research downgraded shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Finally, Evercore boosted their target price on shares of GE Vernova from $860.00 to $905.00 and gave the company an "outperform" rating in a research report on Thursday, January 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and an average price target of $1,090.76.

GE Vernova Stock Performance

NYSE GEV opened at $1,045.50 on Friday. GE Vernova Inc. has a 1 year low of $448.45 and a 1 year high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The firm has a market cap of $280.95 billion, a price-to-earnings ratio of 30.45, a PEG ratio of 3.84 and a beta of 1.51. The company has a fifty day moving average price of $974.20 and a 200-day moving average price of $788.53.

GE Vernova (NYSE:GEV - Get Free Report) last posted 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. The firm had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business's revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 EPS. As a group, equities research analysts predict that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

GE Vernova Announces Dividend

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