GE Vernova Inc. (NYSE:GEV) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 5.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,827 shares of the company's stock after selling 5,710 shares during the period. Handelsbanken Fonder AB's holdings in GE Vernova were worth $30,475,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GEV. FMR LLC boosted its position in shares of GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after purchasing an additional 814,155 shares in the last quarter. Capital International Investors grew its position in shares of GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after buying an additional 2,994,660 shares during the period. Geode Capital Management LLC increased its stake in shares of GE Vernova by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after acquiring an additional 195,828 shares in the last quarter. Norges Bank purchased a new position in GE Vernova during the 4th quarter valued at about $1,109,720,000. Finally, Northern Trust Corp boosted its stake in GE Vernova by 15.0% during the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after acquiring an additional 343,837 shares in the last quarter.

GE Vernova Stock Performance

GE Vernova stock traded up $2.68 during mid-day trading on Thursday, reaching $486.15. 1,300,561 shares of the company were exchanged, compared to its average volume of 3,283,417. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $500.72. The business has a fifty day moving average of $400.27 and a 200 day moving average of $363.37. The firm has a market cap of $132.69 billion, a P/E ratio of 87.44, a PEG ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.47) EPS. Sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. GE Vernova's dividend payout ratio is currently 14.41%.

Analyst Ratings Changes

GEV has been the subject of several recent research reports. New Street Research set a $380.00 target price on shares of GE Vernova in a report on Wednesday, March 5th. Morgan Stanley reiterated an "overweight" rating and set a $422.00 target price (up from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. The Goldman Sachs Group lifted their price target on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on shares of GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, CICC Research started coverage on GE Vernova in a report on Wednesday, February 19th. They set an "outperform" rating on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $395.98.

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.