GE Vernova Inc. $GEV Shares Purchased by Swedbank AB

Key Points

• Swedbank AB increased its stake in GE Vernova by 1.2% in the fourth quarter, ending with 156,772 shares valued at about $102.5 million. Several other institutional investors also recently added to their positions.
• GE Vernova posted a strong quarterly earnings beat, reporting $17.44 EPS versus the $1.95 consensus estimate and revenue of $9.34 billion, up 17% year over year. The company also delivered solid profitability, with a 43.97% return on equity and 23.81% net margin.
• The company announced a quarterly dividend and saw insider selling: shareholders of record on June 16 will receive $0.50 per share, while CAO Matthew Joseph Potvin sold 2,333 shares in a transaction worth about $2.47 million. Analysts remain broadly positive, with a consensus rating of Moderate Buy and a target price of $1,090.76.

Swedbank AB boosted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 156,772 shares of the company's stock after buying an additional 1,900 shares during the period. Swedbank AB owned 0.06% of GE Vernova worth $102,461,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. J.W. Cole Advisors Inc. boosted its stake in GE Vernova by 25.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company's stock worth $9,990,000 after buying an additional 3,278 shares during the last quarter. US Bancorp DE raised its holdings in shares of GE Vernova by 2.2% in the 3rd quarter. US Bancorp DE now owns 100,542 shares of the company's stock worth $61,824,000 after purchasing an additional 2,163 shares during the period. Vanguard Group Inc. grew its holdings in shares of GE Vernova by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company's stock worth $15,259,028,000 after purchasing an additional 150,892 shares during the period. Varenne Capital Partners purchased a new stake in shares of GE Vernova during the 3rd quarter worth about $4,872,000. Finally, Stevens Capital Management LP grew its holdings in shares of GE Vernova by 56.0% during the 3rd quarter. Stevens Capital Management LP now owns 3,640 shares of the company's stock worth $2,238,000 after purchasing an additional 1,307 shares during the period.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $1,039.71 on Friday. The company has a market cap of $279.39 billion, a P/E ratio of 30.29, a PEG ratio of 3.89 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. GE Vernova Inc. has a one year low of $458.65 and a one year high of $1,181.95. The business's 50-day simple moving average is $978.06 and its 200 day simple moving average is $790.29.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS 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 return on equity of 43.97% and a net margin of 23.81%.The company's revenue was up 17.0% on a year-over-year basis. During the same period last year, the business posted $0.91 EPS. On average, sell-side analysts forecast that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova's dividend payout ratio (DPR) is presently 5.83%.

Insider Activity at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GEV shares. Wells Fargo & Company boosted their target price on GE Vernova from $831.00 to $896.00 and gave the stock an "overweight" rating in a report on Tuesday, March 31st. Citigroup boosted their target price on GE Vernova from $779.00 to $1,110.00 and gave the stock a "neutral" rating in a report on Monday, April 13th. UBS Group reiterated a "buy" rating on shares of GE Vernova in a report on Thursday, January 29th. Jefferies Financial Group boosted their target price on GE Vernova from $965.00 to $1,350.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Finally, BNP Paribas Exane cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 target price for the company. in a report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,090.76.

GE Vernova Company 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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