Harbour Investments Inc. Cuts Stock Holdings in GE Vernova Inc. $GEV

Key Points

• Harbour Investments Inc. cut its GE Vernova stake by 30.4% in the fourth quarter, selling 2,293 shares and ending with 5,240 shares valued at about $3.43 million.
• Despite that trim, several other institutions sharply increased their holdings, including Northwestern Mutual Wealth Management, Capital World Investors, and Jennison Associates, signaling strong institutional interest in the stock.
• GE Vernova posted a strong quarter, with EPS of $17.44 and revenue of $9.34 billion, both beating estimates; analysts currently view the stock as a Moderate Buy with an average price target of $1,090.76.

Harbour Investments Inc. trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 30.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,240 shares of the company's stock after selling 2,293 shares during the period. Harbour Investments Inc.'s holdings in GE Vernova were worth $3,425,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GEV. Northwestern Mutual Wealth Management Co. boosted its position in GE Vernova by 5,171.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company's stock valued at $1,603,114,000 after buying an additional 2,406,326 shares during the period. Capital World Investors boosted 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 valued at $1,325,842,000 after buying an additional 2,048,792 shares during the period. Franklin Resources Inc. boosted its position in GE Vernova by 170.0% during the third quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company's stock valued at $722,956,000 after buying an additional 740,339 shares during the period. Jennison Associates LLC boosted its position in GE Vernova by 1,300.4% during the fourth quarter. Jennison Associates LLC now owns 647,791 shares of the company's stock valued at $423,377,000 after buying an additional 601,533 shares during the period. Finally, SG Americas Securities LLC boosted its position in GE Vernova by 10,288.6% during the fourth quarter. SG Americas Securities LLC now owns 418,661 shares of the company's stock valued at $273,624,000 after buying an additional 414,631 shares during the period.

Wall Street Analyst Weigh In

GEV has been the subject of several analyst reports. Wall Street Zen upgraded shares of GE Vernova from a "hold" rating to a "buy" rating in a research report on Saturday, January 31st. UBS Group reaffirmed a "buy" rating on shares of GE Vernova in a research note on Thursday, January 29th. TD Cowen upped their price objective on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. BMO Capital Markets upped their price objective on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. Finally, Evercore upped their price objective on shares of GE Vernova from $860.00 to $905.00 and gave the company an "outperform" rating in a research note on Thursday, January 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,090.76.

Insider Transactions at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the sale, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company's stock.

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 company 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 market capitalization of $277.21 billion, a price-to-earnings ratio of 30.05, a P/E/G ratio of 4.01 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 (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $15.49. The business had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business's revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 earnings per share. Analysts expect that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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 $0.50 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is currently 5.83%.

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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