E. Ohman J or Asset Management AB Sells 2,332 Shares of GE Vernova Inc. $GEV

E. Ohman J or Asset Management AB reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 19.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,440 shares of the company’s stock after selling 2,332 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in GE Vernova were worth $6,170,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Jackson Grant Investment Advisers Inc. increased its position in shares of GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares in the last quarter. Wealth Watch Advisors INC bought a new position in GE Vernova during the 3rd quarter valued at about $25,000. Howard Hughes Medical Institute acquired a new position in GE Vernova in the second quarter valued at about $31,000. Bay Harbor Wealth Management LLC boosted its position in GE Vernova by 537.5% in the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after buying an additional 43 shares in the last quarter. Finally, Monetary Management Group Inc. bought a new stake in GE Vernova during the second quarter worth about $32,000.

GE Vernova Trading Up 3.7%

Shares of GEV stock opened at $882.66 on Tuesday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $920.63. The firm’s 50 day moving average is $784.19 and its 200-day moving average is $674.79. The firm has a market capitalization of $237.90 billion, a price-to-earnings ratio of 49.59, a PEG ratio of 3.39 and a beta of 1.45.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business had revenue of $10.96 billion during the quarter, compared to analyst estimates of $10.21 billion. During the same quarter last year, the business posted $1.73 earnings per share. GE Vernova’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s dividend payout ratio (DPR) is 11.24%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GEV. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Wolfe Research upgraded GE Vernova from a “peer perform” rating to a “buy” rating in a research report on Wednesday, December 10th. Wall Street Zen raised GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Glj Research lifted their price objective on GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Finally, Erste Group Bank began coverage on GE Vernova in a research note on Thursday, March 5th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $837.25.

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.