Bank of Hawaii Acquires Shares of 4,379 GE Vernova Inc. $GEV

Key Points

• Bank of Hawaii opened a new position in GE Vernova during the fourth quarter, buying 4,379 shares worth about $2.86 million.
• GE Vernova reported strong quarterly results, with EPS of $17.44 versus analyst expectations of $1.95 and revenue of $9.34 billion, up 17% year over year.
• Analysts remain broadly positive on the stock, with an average rating of “Moderate Buy” and an average price target of $1,089.88, while recent insider sales included transactions by the CAO and CEO.

Bank of Hawaii purchased a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 4,379 shares of the company's stock, valued at approximately $2,862,000.

A number of other institutional investors have also made changes to their positions in GEV. Brighton Jones LLC boosted its holdings in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after buying an additional 753 shares during the period. Schnieders Capital Management LLC. increased its holdings in GE Vernova by 1.7% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company's stock worth $828,000 after purchasing an additional 26 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of GE Vernova in the 2nd quarter valued at about $258,000. Ossiam acquired a new stake in shares of GE Vernova in the 2nd quarter valued at about $42,000. Finally, Nebula Research & Development LLC lifted its holdings in shares of GE Vernova by 23.9% in the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company's stock valued at $886,000 after purchasing an additional 323 shares in the last quarter.

GE Vernova Price Performance

GE Vernova stock opened at $1,111.65 on Friday. GE Vernova Inc. has a 12-month low of $479.04 and a 12-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 firm has a 50-day moving average price of $1,022.78 and a 200-day moving average price of $847.85. The firm has a market capitalization of $298.72 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 4.11 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 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 company had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the prior year, the company posted $0.91 EPS. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. As a group, 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. Shareholders of record on Tuesday, June 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova's dividend payout ratio is currently 5.83%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GEV. Robert W. Baird upped their price objective on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Weiss Ratings upgraded GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, April 24th. Rothschild & Co Redburn upgraded GE Vernova from a "sell" rating to a "buy" rating and boosted their target price for the company from $560.00 to $1,100.00 in a research note on Monday, March 9th. TD Cowen upped their price target on GE Vernova from $780.00 to $1,220.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Finally, Jefferies Financial Group decreased their price target on shares of GE Vernova from $1,350.00 to $1,210.00 and set a "buy" rating for the company in a research note on Thursday, June 11th. Three research 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,089.88.

Insider Buying and Selling at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the company's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Victor Abate sold 4,819 shares of the company's 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 sale, the chief executive officer owned 1,835 shares of the company's stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by corporate insiders.

About GE Vernova

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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