Munro Partners Raises Holdings in GE Vernova Inc. $GEV

Key Points

• Munro Partners more than doubled its stake in GE Vernova during the fourth quarter, increasing holdings by 112.4% to 330,338 shares. The position is now the fund’s second-largest and represents about 5.6% of its portfolio.
• Several other large investors also adjusted their positions, including Vanguard Group and US Bancorp DE, while analysts remain broadly bullish on the stock. GE Vernova currently carries a consensus rating of Moderate Buy with an average target price of $1,085.16.
• The company reported a strong quarter, with earnings of $17.44 per share and revenue of $9.34 billion, both above expectations. GE Vernova also announced a quarterly dividend of $0.50 per share, payable on July 14.

Munro Partners increased its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 112.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 330,338 shares of the company's stock after acquiring an additional 174,795 shares during the quarter. GE Vernova makes up about 5.6% of Munro Partners' holdings, making the stock its 2nd largest position. Munro Partners owned about 0.12% of GE Vernova worth $215,899,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. US Bancorp DE raised its stake in shares of GE Vernova by 2.2% during the 3rd quarter. US Bancorp DE now owns 100,542 shares of the company's stock valued at $61,824,000 after purchasing an additional 2,163 shares during the period. Vanguard Group Inc. raised its stake in shares of GE Vernova by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company's stock valued at $15,259,028,000 after purchasing an additional 150,892 shares during the period. Varenne Capital Partners bought a new stake in shares of GE Vernova during the 3rd quarter valued at $4,872,000. Merit Financial Group LLC raised its stake in shares of GE Vernova by 17.4% during the 4th quarter. Merit Financial Group LLC now owns 15,080 shares of the company's stock valued at $9,856,000 after purchasing an additional 2,230 shares during the period. Finally, Stevens Capital Management LP raised its stake in shares of GE Vernova by 56.0% during the 3rd quarter. Stevens Capital Management LP now owns 3,640 shares of the company's stock valued at $2,238,000 after purchasing an additional 1,307 shares during the period.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Robert W. Baird boosted their price objective on GE Vernova from $1,008.00 to $1,400.00 and gave the company an "outperform" rating in a research note 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. Susquehanna set a $1,300.00 target price on GE Vernova in a research report on Thursday, April 23rd. TD Cowen boosted their target price on GE Vernova from $780.00 to $1,220.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Finally, BMO Capital Markets boosted their target price 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. Two investment 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,085.16.

Insider Transactions 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 stock was sold at an average price of $1,059.09, for a total value 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 approximately $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 can be accessed through this link. Also, CEO Victor Abate sold 4,819 shares of the company's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares of the company's stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by corporate insiders.

GE Vernova Price Performance

GE Vernova stock opened at $980.08 on Tuesday. GE Vernova Inc. has a 52 week low of $479.04 and a 52 week high of $1,181.95. The business has a 50-day simple moving average of $1,010.48 and a 200 day simple moving average of $836.38. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The stock has a market cap of $263.37 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 3.49 and a beta of 1.24.

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. On average, research analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova's dividend payout ratio is presently 5.83%.

About GE Vernova

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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