Rakuten Investment Management Inc. Acquires 5,610 Shares of GE Vernova Inc. $GEV

Key Points

• Rakuten Investment Management increased its GE Vernova stake by 18.5% in the fourth quarter, buying 5,610 additional shares and bringing its total holdings to 35,860 shares valued at about $23.8 million.
• Several other large investors also expanded their positions, including Norges Bank, Northwestern Mutual Wealth Management, Capital World Investors, Franklin Resources, and Morgan Stanley, highlighting strong institutional interest in GEV.
• GE Vernova reported strong quarterly results, with EPS of $17.44 topping estimates by a wide margin and revenue rising 17% year over year; analysts currently rate the stock a Moderate Buy with an average price target of $1,085.16.

Rakuten Investment Management Inc. increased its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 18.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,860 shares of the company's stock after acquiring an additional 5,610 shares during the quarter. Rakuten Investment Management Inc.'s holdings in GE Vernova were worth $23,792,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of GEV. Norges Bank bought a new position in GE Vernova during the fourth quarter worth about $2,283,114,000. Northwestern Mutual Wealth Management Co. increased its position in shares of GE Vernova by 5,171.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company's stock worth $1,603,114,000 after purchasing an additional 2,406,326 shares during the period. Capital World Investors increased its position in shares of GE Vernova by 1,907.5% in the third quarter. Capital World Investors now owns 2,156,197 shares of the company's stock worth $1,325,842,000 after purchasing an additional 2,048,792 shares during the period. Franklin Resources Inc. increased its position in shares of GE Vernova by 170.0% in the third quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company's stock worth $722,956,000 after purchasing an additional 740,339 shares during the period. Finally, Morgan Stanley increased its position in shares of GE Vernova by 12.8% in the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company's stock worth $3,957,024,000 after purchasing an additional 685,466 shares during the period.

Insider Buying and Selling

In other news, CEO Victor Abate sold 4,819 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $2,470,856.97. Following the completion of the sale, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company's stock.

GE Vernova Price Performance

GEV stock opened at $980.08 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a 12 month low of $479.04 and a 12 month high of $1,181.95. The firm has a market cap of $263.37 billion, a P/E ratio of 28.55, a P/E/G ratio of 3.49 and a beta of 1.24. The company's 50-day moving average price is $1,010.48 and its two-hundred day moving average price is $836.38.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period last year, the firm earned $0.91 EPS. The business's quarterly revenue was up 17.0% compared to the same quarter last year. On average, analysts anticipate that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be paid 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 (DPR) is presently 5.83%.

Analyst Ratings Changes

A number of brokerages have issued reports on GEV. Robert W. Baird increased their price objective on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. Zacks Research lowered shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. TD Cowen raised their target price on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Erste Group Bank raised shares of GE Vernova to a "strong-buy" rating in a report on Tuesday, March 24th. Finally, Oppenheimer set a $1,303.00 target price on shares of GE Vernova in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,085.16.

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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