GE Vernova Inc. $GEV Shares Acquired by Czech National Bank

Key Points

• Czech National Bank increased its GE Vernova stake by 4.2% in the second quarter, adding 3,083 shares to reach 76,488 shares valued at approximately $89.9 million.
• GE Vernova’s latest quarter showed strong revenue growth of 21.9% to $11.1 billion, but earnings per share of $2.47 missed analysts’ $3.17 consensus estimate.
• Company insiders—including the CEO and chief accounting officer—sold shares, while analysts remained broadly bullish, assigning the stock a “Moderate Buy” consensus rating and an average price target of $1,133.15.

Czech National Bank boosted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 4.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,488 shares of the company's stock after acquiring an additional 3,083 shares during the period. Czech National Bank's holdings in GE Vernova were worth $89,863,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GEV. Manning & Napier Advisors LLC raised its position in GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock valued at $26,000 after purchasing an additional 13 shares during the period. Miller Global Investments LLC increased its position in shares of GE Vernova by 63.6% during the 2nd quarter. Miller Global Investments LLC now owns 36 shares of the company's stock worth $42,000 after purchasing an additional 14 shares during the last quarter. Torren Management LLC acquired a new stake in shares of GE Vernova during the 4th quarter worth about $26,000. Cornerstone Financial Management LLC acquired a new stake in shares of GE Vernova during the 4th quarter worth about $25,000. Finally, Wealth Watch Advisors INC purchased a new stake in GE Vernova in the 3rd quarter valued at about $25,000.

Insider Activity at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company's stock.

GE Vernova Price Performance

GEV opened at $998.35 on Friday. The stock's 50-day moving average price is $1,026.19 and its 200 day moving average price is $944.87. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The firm has a market cap of $265.89 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 3.63 and a beta of 1.21.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share 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 business's revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.86 earnings per share. As a group, sell-side analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have commented on GEV. JPMorgan Chase & Co. upped their target price on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. William Blair reiterated an "outperform" rating on shares of GE Vernova in a research report on Monday. Guggenheim boosted their price target on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Oppenheimer upped their price objective on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Finally, TD Cowen increased their price objective on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,133.15.

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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