GE Vernova Inc. $GEV Shares Acquired by Swedbank AB

Key Points

• Swedbank AB increased its stake in GE Vernova Inc. by 38.1%, owning 190,148 shares valued at approximately $58 million after purchasing additional shares in Q1.
• Several hedge funds modified their holdings in GE Vernova, including Vanguard Group Inc., which raised its investment by 1.8%, and GAMMA Investing LLC, which soared by over 32,000% in the same period.
• GE Vernova's quarterly earnings exceeded expectations, reporting $1.86 EPS against a consensus estimate of $1.63, with a notable 11.1% revenue increase year-over-year.

Swedbank AB grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 38.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 190,148 shares of the company's stock after purchasing an additional 52,461 shares during the period. Swedbank AB owned approximately 0.07% of GE Vernova worth $58,048,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of GE Vernova by 1.8% in the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after purchasing an additional 432,830 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of GE Vernova by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after purchasing an additional 214,483 shares during the period. GAMMA Investing LLC increased its holdings in shares of GE Vernova by 32,984.2% in the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after purchasing an additional 2,135,066 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of GE Vernova by 21.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company's stock valued at $634,984,000 after purchasing an additional 367,150 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of GE Vernova by 50.9% in the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock valued at $619,703,000 after purchasing an additional 684,794 shares during the period.

GE Vernova Trading Down 1.3%

Shares of GEV opened at $625.99 on Friday. GE Vernova Inc. has a 12 month low of $219.01 and a 12 month high of $677.29. The stock's 50 day moving average is $608.65 and its two-hundred day moving average is $467.18. The firm has a market cap of $170.41 billion, a P/E ratio of 150.84, a PEG ratio of 4.38 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same period last year, the company earned $4.65 earnings per share. GE Vernova's quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

Wall Street Analyst Weigh In

Several analysts recently commented on GEV shares. BMO Capital Markets raised their target price on GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. TD Cowen raised their target price on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Bank of America raised their target price on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, Glj Research started coverage on GE Vernova in a report on Monday, June 23rd. They set a "buy" rating on the stock. Four analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and a consensus price target of $580.04.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.15% of the company's stock.

About GE Vernova

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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