GE Vernova Inc. $GEV Shares Acquired by ABN AMRO Bank N.V.

Key Points

• ABN AMRO Bank N.V. increased its GE Vernova stake by 63.6% in the fourth quarter, buying 58,860 more shares and bringing its total holding to 151,462 shares valued at about $99.0 million.
• GE Vernova reported blowout quarterly results, with earnings of $17.44 per share versus consensus estimates of $1.95 and revenue of $9.34 billion, up 17% year over year.
• Wall Street remains broadly positive on the stock, with multiple analyst upgrades and a consensus rating of Moderate Buy; GE Vernova also paid a quarterly dividend of $0.50 per share.

ABN AMRO Bank N.V. grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 63.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,462 shares of the company's stock after purchasing an additional 58,860 shares during the quarter. ABN AMRO Bank N.V. owned approximately 0.06% of GE Vernova worth $99,049,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its stake in GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after acquiring an additional 753 shares in the last quarter. Schnieders Capital Management LLC. raised its stake in GE Vernova by 1.7% during the 2nd 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 acquired a new stake in GE Vernova during the 2nd quarter worth $258,000. Ossiam acquired a new stake in GE Vernova during the 2nd quarter worth $42,000. Finally, Nebula Research & Development LLC raised its stake in GE Vernova by 23.9% during the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company's stock worth $886,000 after acquiring an additional 323 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently commented on GEV. Erste Group Bank upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Tuesday, March 24th. Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a research note on Thursday, April 23rd. Evercore lifted their price objective on shares of GE Vernova from $860.00 to $905.00 and gave the company an "outperform" rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Finally, UBS Group restated a "buy" rating on shares of GE Vernova in a research note on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and an average price target of $1,090.76.

GE Vernova Stock Up 0.1%

Shares of NYSE:GEV opened at $1,040.75 on Monday. The company has a market cap of $279.67 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 3.90 and a beta of 1.51. The firm's 50-day simple moving average is $933.83 and its 200-day simple moving average is $755.75. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a fifty-two week low of $387.03 and a fifty-two week high of $1,181.95.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. The business had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. As a group, equities research analysts predict that GE Vernova Inc. will post 14.84 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's payout ratio is currently 5.83%.

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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