Cardano Risk Management B.V. Takes $105.17 Million Position in GE Vernova Inc. $GEV

Key Points

• Cardano Risk Management B.V. acquired a new $105.17 million stake in GE Vernova during the second quarter, purchasing 89,517 shares. Several other major institutions, including Vanguard, State Street and Morgan Stanley, also increased their holdings.
• Analysts remain broadly bullish, with GE Vernova carrying a consensus “Moderate Buy” rating and an average price target of $1,133.15, though some firms recently downgraded the stock to “Hold.”
• GE Vernova reported quarterly revenue of $11.10 billion, up 21.9% year over year, but its $2.47 EPS missed expectations of $3.17. The company also paid a quarterly dividend of $0.50 per share, equal to a 0.2% annualized yield.

Cardano Risk Management B.V. acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 89,517 shares of the company's stock, valued at approximately $105,170,000.

Other hedge funds have also modified their holdings of the company. Auto Owners Insurance Co grew its stake in shares of GE Vernova by 110,973.4% during the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company's stock valued at $2,278,224,000 after buying an additional 34,826,773 shares during the period. Vanguard Group Inc. raised its position in shares of GE Vernova by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company's stock worth $16,354,691,000 after buying an additional 208,162 shares during the period. State Street Corp raised its position in shares of GE Vernova by 2.1% in the 4th quarter. State Street Corp now owns 11,469,670 shares of the company's stock worth $7,496,232,000 after buying an additional 231,392 shares during the period. Geode Capital Management LLC boosted its holdings in GE Vernova by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company's stock valued at $4,074,039,000 after acquiring an additional 68,894 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in GE Vernova by 12.8% in the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company's stock valued at $3,957,024,000 after acquiring an additional 685,466 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Barclays boosted their price target on GE Vernova from $993.00 to $1,250.00 and gave the company an "overweight" rating in a research report on Thursday, April 23rd. Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Sanford C. Bernstein increased their target price on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Royal Bank Of Canada raised their price target on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the company an "outperform" rating in a report on Thursday, July 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 research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,133.15.

Insider Buying and Selling at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of GE Vernova 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 sale, the chief executive officer owned 1,835 shares of the company's stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business'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 transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company's stock.

GE Vernova Stock Performance

GE Vernova stock opened at $990.15 on Friday. The firm has a market capitalization of $263.71 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 3.53 and a beta of 1.21. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94. The stock's 50 day moving average price is $1,026.62 and its 200 day moving average price is $945.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm's revenue was up 21.9% compared to the same quarter last year. During the same period last year, the business earned $1.86 EPS. As a group, sell-side analysts expect that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 16th. GE Vernova's dividend payout ratio (DPR) is presently 5.72%.

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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