PensionDanmark Pensionsforsikringsaktieselskab Increases Holdings in GE Vernova Inc. $GEV

Key Points

• PensionDanmark increased its GE Vernova stake by 4.1% in the second quarter, acquiring 2,211 additional shares and bringing its holdings to 55,711 shares valued at approximately $65.5 million. Several other funds also initiated or expanded positions.
• GE Vernova reported quarterly revenue of $11.1 billion, up 21.9% year over year and above estimates, but earnings per share of $2.47 missed the $3.17 consensus forecast. The company also declared a $0.50 quarterly dividend, equivalent to a 0.2% yield.
• Analysts remain broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $1,133.15, although the CEO and chief accounting officer recently sold shares.

PensionDanmark Pensionsforsikringsaktieselskab increased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 4.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,711 shares of the company's stock after acquiring an additional 2,211 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab's holdings in GE Vernova were worth $65,453,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Manning & Napier Advisors LLC grew its holdings in GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock valued at $26,000 after purchasing an additional 13 shares during the last quarter. Miller Global Investments LLC raised its stake in shares of GE Vernova by 63.6% during the 2nd quarter. Miller Global Investments LLC now owns 36 shares of the company's stock worth $42,000 after buying an additional 14 shares during the last quarter. Torren Management LLC purchased a new stake in shares of GE Vernova in the 4th quarter worth about $26,000. Cornerstone Financial Management LLC purchased a new stake in shares of GE Vernova in the 4th quarter worth about $25,000. Finally, Wealth Watch Advisors INC acquired a new stake in GE Vernova in the 3rd quarter valued at about $25,000.

GE Vernova Price Performance

GE Vernova stock opened at $998.35 on Friday. The stock has a market capitalization of $265.89 billion, a P/E ratio of 28.57, a P/E/G ratio of 3.63 and a beta of 1.21. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The firm's 50-day moving average is $1,026.19 and its two-hundred day moving average is $944.87.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business's quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.86 EPS. Equities analysts predict that GE Vernova Inc. will post 15.57 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were issued a $0.50 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova's payout ratio is 5.72%.

Insider Buying and Selling at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction on 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction 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 completion of the sale, the chief accounting officer directly owned 3,549 shares of the company's stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Zacks Research downgraded shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. Royal Bank Of Canada increased their price target on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Barclays raised their price objective on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Thursday, April 23rd. Guggenheim lifted their price objective on GE Vernova from $1,300.00 to $1,450.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of GE Vernova in a research note on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and a consensus price target of $1,133.15.

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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