BI Asset Management Fondsmaeglerselskab A S Sells 1,144 Shares of GE Vernova Inc. $GEV

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in GE Vernova Inc. by 10.6%, selling 1,144 shares and leaving them with a total of 9,637 shares valued at approximately $2.94 million.
• Institutional investors like Vanguard and Goldman Sachs have increased their holdings in GE Vernova, with Vanguard owning over 24 million shares worth about $7.45 billion.
• GE Vernova's recent quarterly earnings exceeded expectations, reporting $1.86 earnings per share on revenue of $9.11 billion, surpassing analysts' consensus forecasts.

BI Asset Management Fondsmaeglerselskab A S trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 10.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 9,637 shares of the company's stock after selling 1,144 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in GE Vernova were worth $2,942,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GEV. Vanguard Group Inc. raised its stake in GE Vernova by 1.8% during the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock worth $7,446,577,000 after acquiring an additional 432,830 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of GE Vernova by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock worth $955,513,000 after purchasing an additional 214,483 shares during the last quarter. Northern Trust Corp increased its position in shares of GE Vernova by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after purchasing an additional 343,837 shares in the last quarter. GAMMA Investing LLC increased its position in shares of GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after purchasing an additional 2,135,066 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in GE Vernova by 50.9% during the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock valued at $619,703,000 after purchasing an additional 684,794 shares during the last quarter.

Analysts Set New Price Targets

GEV has been the subject of a number of research analyst reports. Royal Bank Of Canada reiterated an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Citigroup lifted their price objective on GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Wells Fargo & Company boosted their price objective on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Morgan Stanley increased their target price on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Bank of America lifted their price target on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $560.21.

GE Vernova Price Performance

GEV opened at $604.8590 on Thursday. The company has a market cap of $164.65 billion, a price-to-earnings ratio of 145.75, a price-to-earnings-growth ratio of 4.17 and a beta of 1.90. The firm has a 50 day simple moving average of $571.62 and a 200 day simple moving average of $437.96. GE Vernova Inc. has a fifty-two week low of $173.07 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the prior year, the business posted $4.65 EPS. The firm's quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were issued a $0.25 dividend. The ex-dividend date was Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is 24.10%.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.

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