Legal & General Group Plc Grows Stock Position in GE Vernova Inc. $GEV

Key Points

• Legal & General Group Plc increased its stake in GE Vernova by 5.4% in the fourth quarter, holding 1,741,353 shares valued at about $1.14 billion as of its latest filing.
• GE Vernova reported strong quarterly results, with EPS of $17.44 and revenue of $9.34 billion, both ahead of expectations; revenue also rose 17% year over year.
• The company announced a quarterly dividend of $0.50 per share and continues to attract bullish analyst coverage, with a consensus rating of Moderate Buy and an average price target of $1,090.76.

Legal & General Group Plc boosted its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 5.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,741,353 shares of the company's stock after buying an additional 88,642 shares during the quarter. Legal & General Group Plc owned approximately 0.65% of GE Vernova worth $1,138,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of GEV. Jackson Grant Investment Advisers Inc. increased its position in GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company's stock worth $25,000 after buying an additional 31 shares during the last quarter. Wealth Watch Advisors INC purchased a new stake in GE Vernova in the third quarter worth $25,000. Torren Management LLC purchased a new stake in GE Vernova in the fourth quarter worth $26,000. ORG Wealth Partners LLC grew its position in shares of GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock valued at $27,000 after purchasing an additional 29 shares in the last quarter. Finally, Navalign LLC purchased a new position in shares of GE Vernova in the fourth quarter valued at $27,000.

Insider Buying and Selling

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the business'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 completion of the transaction, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is currently owned by insiders.

GE Vernova Price Performance

Shares of NYSE GEV opened at $1,039.71 on Monday. The stock has a market cap of $279.39 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 3.89 and a beta of 1.51. 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 debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The stock has a fifty day moving average of $978.06 and a 200-day moving average of $791.75.

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 the consensus estimate 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 analysts' expectations of $9.19 billion. During the same period in the previous year, the business earned $0.91 earnings per share. The firm's revenue was up 17.0% on a year-over-year basis. Equities research analysts anticipate that GE Vernova Inc. will post 14.84 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group reiterated a "buy" rating and issued a $1,328.00 price target on shares of GE Vernova in a research report on Friday, April 24th. Susquehanna set a $1,300.00 price target on GE Vernova in a research report on Thursday, April 23rd. BMO Capital Markets lifted their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the company an "outperform" rating in a research report on Thursday, April 23rd. Wall Street Zen upgraded GE Vernova from a "hold" rating to a "buy" rating in a research report on Saturday, January 31st. Finally, Rothschild & Co Redburn upgraded GE Vernova from a "sell" rating to a "buy" rating and lifted their price target for the company from $560.00 to $1,100.00 in a research report on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,090.76.

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.

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