Swedbank AB Has $85.91 Million Stock Holdings in GE Vernova Inc. $GEV

Key Points

• Swedbank AB reduced its stake in GE Vernova Inc. by 14.6%, holding approximately $85.91 million in shares after selling 27,802 during the second quarter.
• Major investors like Vanguard and Goldman Sachs increased their positions significantly, reflecting a broader interest in GE Vernova's stock amid positive analyst ratings.
• Analysts have raised their price targets for GE Vernova, with the average consensus target now at $592.35, indicating a generally favorable outlook for the company.

Swedbank AB reduced its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 14.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 162,346 shares of the company's stock after selling 27,802 shares during the quarter. Swedbank AB owned approximately 0.06% of GE Vernova worth $85,905,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EQ Wealth Advisors LLC bought a new position in GE Vernova during the first quarter valued at approximately $27,000. IMA Advisory Services Inc. bought a new position in GE Vernova during the first quarter valued at approximately $27,000. Orion Capital Management LLC bought a new position in GE Vernova during the fourth quarter valued at approximately $30,000. Mowery & Schoenfeld Wealth Management LLC raised its position in GE Vernova by 115.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after acquiring an additional 53 shares in the last quarter. Finally, 1248 Management LLC bought a new position in GE Vernova during the first quarter valued at approximately $31,000.

GE Vernova Trading Up 1.0%

Shares of GEV stock traded up $6.12 on Monday, reaching $630.29. The company had a trading volume of 693,864 shares, compared to its average volume of 3,472,298. The stock has a market cap of $171.58 billion, a PE ratio of 151.84, a PEG ratio of 4.55 and a beta of 1.87. The company has a 50-day moving average of $617.11 and a 200-day moving average of $479.75. GE Vernova Inc. has a 12 month low of $246.79 and a 12 month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.GE Vernova's revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GEV shares. Glj Research started coverage on shares of GE Vernova in a research report on Monday, June 23rd. They issued a "buy" rating on the stock. Jefferies Financial Group boosted their target price on shares of GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a research report on Friday, September 12th. Susquehanna lifted their price target on shares of GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Melius Research set a $740.00 price target on shares of GE Vernova and gave the stock a "buy" rating in a research note on Monday, September 15th. Finally, BMO Capital Markets lifted their price target on shares of GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and a consensus price target of $592.35.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by company insiders.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.