Geode Capital Management LLC Boosts Holdings in GE Vernova Inc. $GEV

Key Points

• Geode Capital Management increased its GE Vernova stake by 1.1% in the fourth quarter, bringing its holdings to 6.25 million shares valued at about $4.07 billion.
• GE Vernova also saw mixed insider and institutional activity: several other investors added positions, while CAO Matthew Joseph Potvin sold 2,333 shares in mid-May, cutting his stake by nearly 40%.
• Analysts remain bullish overall, with a consensus rating of Moderate Buy and an average price target of $1,090.76, while the company recently posted strong quarterly results with revenue up 17% year over year.

Geode Capital Management LLC lifted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,249,193 shares of the company's stock after purchasing an additional 68,894 shares during the quarter. Geode Capital Management LLC owned 2.32% of GE Vernova worth $4,074,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of GEV. Brighton Jones LLC raised its position in shares of GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after purchasing an additional 753 shares during the last quarter. Schnieders Capital Management LLC. raised its position in shares of GE Vernova by 1.7% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company's stock worth $828,000 after purchasing an additional 26 shares during the last quarter. Jump Financial LLC purchased a new position in shares of GE Vernova in the 2nd quarter worth about $258,000. Ossiam purchased a new position in shares of GE Vernova in the 2nd quarter worth about $42,000. Finally, Nebula Research & Development LLC raised its position in shares of GE Vernova by 23.9% in the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company's stock worth $886,000 after purchasing an additional 323 shares during the last quarter.

Insider Activity at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the company's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the sale, the chief accounting officer owned 3,549 shares of the company's stock, valued at $3,758,710.41. This represents a 39.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent analyst reports. Oppenheimer set a $1,303.00 price target on GE Vernova in a research report on Thursday, April 23rd. Morgan Stanley boosted their target price on GE Vernova from $817.00 to $960.00 and gave the stock an "overweight" rating in a research report on Monday, March 23rd. Mizuho set a $714.00 target price on GE Vernova in a research report on Tuesday, February 3rd. Wall Street Zen raised GE Vernova from a "hold" rating to a "buy" rating in a research report on Saturday, January 31st. Finally, UBS Group reissued a "buy" rating on shares of GE Vernova in a research report on Thursday, January 29th. Two 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,090.76.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $1,031.61 on Thursday. GE Vernova Inc. has a fifty-two week low of $458.65 and a fifty-two week high of $1,181.95. The business has a 50-day simple moving average of $991.69 and a two-hundred day simple moving average of $802.21. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The firm has a market cap of $277.21 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 4.01 and a beta of 1.51.

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, topping analysts' consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. GE Vernova's revenue was up 17.0% on a year-over-year basis. On average, analysts expect that GE Vernova Inc. will post 14.84 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is presently 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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

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.