BI Asset Management Fondsmaeglerselskab A S Has $24 Million Stock Position in GE Vernova Inc. $GEV

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its GE Vernova stake by 80.8% in the first quarter, ending with 27,494 shares worth about $24 million.
• Several GE Vernova insiders sold shares recently, including CAO Matthew Joseph Potvin and CEO Victor Abate, while insiders collectively own just 0.21% of the stock.
• GE Vernova reported strong quarterly results, with EPS of $17.44 and revenue of $9.34 billion, and analysts remain bullish with a Moderate Buy consensus and average price target of $1,089.88.

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 80.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,494 shares of the company's stock after purchasing an additional 12,283 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in GE Vernova were worth $24,000,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GEV. Brighton Jones LLC increased its stake in shares of GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after acquiring an additional 753 shares in the last quarter. Schnieders Capital Management LLC. boosted its stake in GE Vernova by 1.7% during the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company's stock worth $828,000 after acquiring an additional 26 shares in the last quarter. Jump Financial LLC bought a new position in GE Vernova during the second quarter worth $258,000. Ossiam acquired a new stake in GE Vernova in the second quarter worth $42,000. Finally, Nebula Research & Development LLC grew its holdings in GE Vernova by 23.9% in the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company's stock worth $886,000 after purchasing an additional 323 shares during the period.

Insider Buying and Selling

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction on Monday, June 1st. The shares were 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 directly owned 1,835 shares of the company's stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by company insiders.

GE Vernova Trading Up 0.2%

GEV opened at $1,111.65 on Friday. GE Vernova Inc. has a fifty-two week low of $479.04 and a fifty-two week high of $1,181.95. The firm has a market capitalization of $298.72 billion, a PE ratio of 32.38, a P/E/G ratio of 4.11 and a beta of 1.23. 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's 50-day moving average is $1,022.78 and its 200 day moving average is $847.85.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 by $15.49. The business had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company's quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. As a group, research analysts predict that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GEV. Rothschild & Co Redburn upgraded shares of GE Vernova from a "sell" rating to a "buy" rating and upped their price objective for the company from $560.00 to $1,100.00 in a report on Monday, March 9th. The Goldman Sachs Group restated a "buy" rating and issued a $1,328.00 target price on shares of GE Vernova in a research note on Friday, April 24th. Robert W. Baird boosted their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the company an "outperform" rating in a research report on Thursday, April 23rd. Sanford C. Bernstein assumed coverage on GE Vernova in a research note on Tuesday. They set an "outperform" rating and a $1,206.00 price target on the stock. Finally, Weiss Ratings raised GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, April 24th. 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 stock. Based on data from MarketBeat, GE Vernova presently has a consensus rating of "Moderate Buy" and an average price target of $1,089.88.

GE Vernova Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.