Fjarde AP Fonden Fourth Swedish National Pension Fund Lowers Position in GE Vernova Inc. (NYSE:GEV)

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund has reduced its stake in GE Vernova Inc. by 17.5%, now holding 29,766 shares valued at approximately $9.09 million.
• GE Vernova recently declared a quarterly dividend of $0.25, scheduled for payment on August 18th, with an annualized yield of 0.2%.
• Analysts have provided mixed ratings on GE Vernova, with price targets ranging from $427 to $706, indicating a consensus rating of "Moderate Buy."

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 17.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,766 shares of the company's stock after selling 6,300 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in GE Vernova were worth $9,087,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Navigoe LLC purchased a new position in GE Vernova during the fourth quarter valued at $27,000. Clarity Asset Management Inc. purchased a new position in shares of GE Vernova in the fourth quarter valued at about $28,000. IMA Advisory Services Inc. purchased a new position in shares of GE Vernova in the first quarter valued at about $27,000. Orion Capital Management LLC purchased a new position in shares of GE Vernova in the fourth quarter valued at about $30,000. Finally, EQ Wealth Advisors LLC purchased a new position in shares of GE Vernova in the first quarter valued at about $27,000.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $624.93 on Friday. GE Vernova Inc. has a 1 year low of $173.07 and a 1 year high of $677.29. The business has a 50 day simple moving average of $560.87 and a two-hundred day simple moving average of $431.14. The firm has a market capitalization of $170.12 billion, a PE ratio of 150.58, a price-to-earnings-growth ratio of 4.38 and a beta of 1.90.

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

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's payout ratio is presently 24.10%.

Analysts Set New Price Targets

Several brokerages have recently commented on GEV. TD Cowen boosted their price objective on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research report on Friday, July 25th. UBS Group began coverage on GE Vernova in a research report on Monday, July 7th. They issued a "buy" rating and a $614.00 price objective on the stock. Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and boosted their price objective for the company from $427.00 to $517.00 in a research report on Thursday, May 29th. Robert W. Baird boosted their price objective on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Finally, Bank of America boosted their price objective on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Ten research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

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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