Fjarde AP Fonden Fourth Swedish National Pension Fund Reduces Stock Position in GE Vernova Inc. $GEV

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its position in GE Vernova Inc. (NYSE:GEV) by 49.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 21,266 shares of the company’s stock after selling 20,400 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in GE Vernova were worth $13,076,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its position in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares during the last quarter. Procyon Advisors LLC purchased a new stake in GE Vernova in the 2nd quarter worth approximately $396,000. Sovran Advisors LLC grew its stake in GE Vernova by 10.3% in the 2nd quarter. Sovran Advisors LLC now owns 876 shares of the company’s stock worth $464,000 after acquiring an additional 82 shares during the period. Signal Advisors Wealth LLC acquired a new position in GE Vernova in the 2nd quarter valued at $229,000. Finally, NorthCrest Asset Manangement LLC lifted its stake in shares of GE Vernova by 4.0% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 1,015 shares of the company’s stock worth $525,000 after purchasing an additional 39 shares during the period.

GE Vernova Price Performance

NYSE GEV opened at $681.78 on Friday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $731.00. The firm has a market capitalization of $184.98 billion, a P/E ratio of 111.04, a P/E/G ratio of 2.69 and a beta of 1.67. The business’s 50-day simple moving average is $629.47 and its 200-day simple moving average is $611.23.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). The business had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.35) EPS. On average, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s payout ratio is 32.57%.

Analyst Ratings Changes

A number of brokerages have recently commented on GEV. Susquehanna lifted their price objective on GE Vernova from $750.00 to $775.00 and gave the company a “positive” rating in a research report on Wednesday, December 10th. Mizuho decreased their price target on GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Jefferies Financial Group set a $830.00 price objective on shares of GE Vernova in a research note on Monday, December 22nd. Morgan Stanley raised their target price on shares of GE Vernova from $710.00 to $822.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Finally, BMO Capital Markets boosted their target price on shares of GE Vernova from $710.00 to $780.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $703.04.

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.