Arrowstreet Capital Limited Partnership Has $860.44 Million Stock Position in GE Vernova Inc. $GEV

Key Points

• Arrowstreet Capital reduced its GE Vernova stake by 11.3% in the fourth quarter, but still held 1.32 million shares valued at about $860.4 million as of its latest filing.
• GE Vernova delivered strong quarterly results, reporting EPS of $17.44 versus $1.95 expected and revenue of $9.34 billion, with sales up 17% year over year.
• Analysts remain mostly positive on the stock despite some mixed rating changes, with a consensus “Moderate Buy” and an average price target of $1,085.16; the company also announced a quarterly dividend of $0.50 per share.

Arrowstreet Capital Limited Partnership trimmed its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 11.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,316,515 shares of the company's stock after selling 168,266 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.49% of GE Vernova worth $860,435,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. US Bancorp DE raised its stake in shares of GE Vernova by 2.2% in the third quarter. US Bancorp DE now owns 100,542 shares of the company's stock valued at $61,824,000 after acquiring an additional 2,163 shares during the last quarter. Vanguard Group Inc. raised its stake 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 acquiring an additional 150,892 shares during the last quarter. Varenne Capital Partners bought a new position in shares of GE Vernova in the third quarter valued at approximately $4,872,000. Merit Financial Group LLC raised its stake in shares of GE Vernova by 17.4% in the fourth quarter. Merit Financial Group LLC now owns 15,080 shares of the company's stock valued at $9,856,000 after acquiring an additional 2,230 shares during the last quarter. Finally, Stevens Capital Management LP raised its stake in shares of GE Vernova by 56.0% in the third quarter. Stevens Capital Management LP now owns 3,640 shares of the company's stock valued at $2,238,000 after acquiring an additional 1,307 shares during the last quarter.

Analysts Set New Price Targets

GEV has been the subject of a number of research analyst reports. BNP Paribas Exane cut shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 target price for the company. in a research note on Monday, April 27th. Royal Bank Of Canada boosted their price objective on shares of GE Vernova from $996.00 to $1,195.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. BMO Capital Markets boosted their price objective on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a research report on Thursday, April 23rd. Finally, Zacks Research cut shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and a consensus target price of $1,085.16.

Insider Buying and Selling at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $2,470,856.97. Following the sale, the chief accounting officer owned 3,549 shares of the company's stock, valued at $3,758,710.41. The trade was a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company's stock.

GE Vernova Stock Performance

GEV stock opened at $940.14 on Friday. 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 company has a 50 day moving average price of $1,008.85 and a 200 day moving average price of $831.73. GE Vernova Inc. has a fifty-two week low of $474.21 and a fifty-two week high of $1,181.95. The stock has a market capitalization of $252.63 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 3.49 and a beta of 1.23.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share 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 analysts' expectations of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. GE Vernova's revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 EPS. Analysts forecast that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

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 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 dividend yield of 0.2%. GE Vernova's 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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