GE Vernova Inc. $GEV Position Increased by Danica Pension Livsforsikringsaktieselskab

Key Points

• Danica Pension increased its GE Vernova stake by 9.7% in the second quarter, ending with 14,575 shares valued at approximately $17.1 million. Several other institutional investors also initiated or expanded positions.
• GE Vernova reported quarterly revenue of $11.10 billion, up 21.9% year over year and above estimates, but earnings per share of $2.47 fell short of the $3.17 consensus forecast.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $1,133.15 target price, although some firms recently downgraded the stock. CEO Victor Abate also sold shares worth approximately $4.57 million.

Danica Pension Livsforsikringsaktieselskab grew its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 9.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,575 shares of the company's stock after purchasing an additional 1,292 shares during the period. Danica Pension Livsforsikringsaktieselskab's holdings in GE Vernova were worth $17,124,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Manning & Napier Advisors LLC grew its position in shares of GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock valued at $26,000 after buying an additional 13 shares during the last quarter. IMG Wealth Management Inc. bought a new position in GE Vernova in the second quarter worth about $39,000. Miller Global Investments LLC lifted its holdings in GE Vernova by 63.6% in the second quarter. Miller Global Investments LLC now owns 36 shares of the company's stock worth $42,000 after acquiring an additional 14 shares during the last quarter. Torren Management LLC acquired a new position in GE Vernova in the fourth quarter valued at approximately $26,000. Finally, Cornerstone Financial Management LLC acquired a new position in GE Vernova in the fourth quarter valued at approximately $25,000.

Insider Activity at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the company's stock in a transaction that occurred 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 approximately $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.21% of the company's stock.

GE Vernova Price Performance

Shares of NYSE GEV opened at $956.69 on Monday. The stock has a market cap of $254.80 billion, a P/E ratio of 27.38, a P/E/G ratio of 3.41 and a beta of 1.21. The firm's 50-day simple moving average is $1,042.72 and its 200 day simple moving average is $969.61. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21.

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

Analyst Ratings Changes

Several equities analysts have recently commented on GEV shares. TD Cowen upped their target price on GE Vernova from $1,220.00 to $1,235.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Guggenheim raised their price target on GE Vernova from $1,300.00 to $1,450.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Morgan Stanley lowered GE Vernova from an "overweight" rating to an "underweight" rating in a research report on Monday, August 3rd. Oppenheimer upped their price objective on GE Vernova from $1,303.00 to $1,338.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Finally, BNP Paribas Exane lowered GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 target price on the stock. in a research report on Monday, April 27th. Two equities 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 issued a Sell rating to the stock. Based on data from MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and a consensus price target of $1,133.15.

GE Vernova 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.

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