Swiss Life Asset Management Ltd Buys 5,504 Shares of GE Vernova Inc. $GEV

Key Points

• Swiss Life Asset Management increased its stake in GE Vernova by 6.2% in the fourth quarter, buying 5,504 additional shares and bringing its total holdings to 93,657 shares valued at about $61.2 million.
• GE Vernova reported much stronger-than-expected quarterly results, with EPS of $17.44 versus the $1.95 consensus and revenue of $9.34 billion, up 17% year over year.
• Wall Street remains bullish on GEV, with multiple analysts raising price targets and the stock carrying a consensus rating of “Moderate Buy” and an average price target of about $1,090.76.

Swiss Life Asset Management Ltd increased its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 93,657 shares of the company's stock after buying an additional 5,504 shares during the period. Swiss Life Asset Management Ltd's holdings in GE Vernova were worth $61,211,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of GEV. Jackson Grant Investment Advisers Inc. boosted its holdings in GE Vernova by 344.4% in the 3rd 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 period. Wealth Watch Advisors INC bought a new position in GE Vernova in the 3rd quarter worth approximately $25,000. Torren Management LLC bought a new position in GE Vernova in the 4th quarter worth approximately $26,000. ORG Wealth Partners LLC boosted its holdings in GE Vernova by 241.7% in the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock worth $27,000 after buying an additional 29 shares during the period. Finally, Monetary Management Group Inc. bought a new position in GE Vernova in the 2nd quarter worth approximately $32,000.

GE Vernova Stock Performance

NYSE GEV opened at $1,040.75 on Monday. GE Vernova Inc. has a 1 year low of $387.03 and a 1 year high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The stock has a market capitalization of $279.67 billion, a PE ratio of 30.32, a P/E/G ratio of 3.90 and a beta of 1.51. The company's 50 day simple moving average is $933.83 and its two-hundred day simple moving average is $755.75.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping 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 business had revenue of $9.34 billion for the quarter, compared to analysts' expectations of $9.19 billion. During the same period in the prior year, the company posted $0.91 EPS. The business's revenue for the quarter was up 17.0% compared to the same quarter last year. Analysts predict that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th were paid a $0.50 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio is currently 5.83%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GEV. TD Cowen raised their price objective on shares of GE Vernova from $780.00 to $1,220.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a report on Thursday, April 23rd. Mizuho set a $714.00 price objective on shares of GE Vernova in a report on Tuesday, February 3rd. Royal Bank Of Canada raised their price objective on shares of GE Vernova from $996.00 to $1,195.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Finally, Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,090.76.

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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