GE Vernova Inc. $GEV Shares Sold by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management trimmed its stake in GE Vernova by 6.5%, selling 995 shares and leaving it with 14,201 shares valued at about $9.28 million per its latest SEC filing.
• Other institutions largely added to positions — notably Vanguard now holds 25,023,625 shares (~$16.35 billion) and Capital World Investors boosted its stake by 1,907.5% (adding 2,048,792 shares).
• GE Vernova posted a huge quarterly beat (EPS $17.44 vs. $1.95 estimate, revenue up 17% YoY), yet the stock was down 6.6%

Generali Asset Management SPA SGR decreased its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,201 shares of the company's stock after selling 995 shares during the period. Generali Asset Management SPA SGR's holdings in GE Vernova were worth $9,281,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in GE Vernova by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company's stock worth $16,354,691,000 after buying an additional 208,162 shares during the period. State Street Corp increased its position in GE Vernova by 1.3% during the third quarter. State Street Corp now owns 11,238,278 shares of the company's stock worth $6,910,417,000 after buying an additional 140,500 shares during the period. Northern Trust Corp increased its position in GE Vernova by 1.8% during the third quarter. Northern Trust Corp now owns 2,877,458 shares of the company's stock worth $1,769,349,000 after buying an additional 51,738 shares during the period. Invesco Ltd. increased its position in GE Vernova by 7.1% during the third quarter. Invesco Ltd. now owns 2,375,738 shares of the company's stock worth $1,460,841,000 after buying an additional 158,481 shares during the period. Finally, Capital World Investors increased its position in GE Vernova by 1,907.5% during the third quarter. Capital World Investors now owns 2,156,197 shares of the company's stock worth $1,325,842,000 after buying an additional 2,048,792 shares during the period.

GE Vernova Stock Down 6.6%

GE Vernova stock opened at $1,044.82 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. GE Vernova Inc. has a 1-year low of $387.03 and a 1-year high of $1,181.95. The company has a market cap of $280.76 billion, a PE ratio of 30.43, a price-to-earnings-growth ratio of 4.19 and a beta of 1.51. The stock's 50 day moving average price is $933.83 and its 200 day moving average price is $755.75.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $15.49. The company 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%.GE Vernova's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. On average, sell-side analysts predict that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Analyst Upgrades and Downgrades

GEV has been the topic of several research analyst reports. BMO Capital Markets lifted their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. JPMorgan Chase & Co. lifted their price target on GE Vernova from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Thursday, April 16th. Robert W. Baird boosted their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. Wall Street Zen raised GE Vernova from a "hold" rating to a "buy" rating in a report on Saturday, January 31st. Finally, Wells Fargo & Company boosted their target price on GE Vernova from $831.00 to $896.00 and gave the company an "overweight" rating in a report on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, GE Vernova currently has an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.