Auto Owners Insurance Co Raises Stock Holdings in GE Vernova Inc. $GEV

Auto Owners Insurance Co raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 110,973.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 34,858,156 shares of the company’s stock after buying an additional 34,826,773 shares during the quarter. GE Vernova comprises approximately 0.5% of Auto Owners Insurance Co’s holdings, making the stock its 21st largest holding. Auto Owners Insurance Co owned about 0.13% of GE Vernova worth $2,278,224,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GEV. Brighton Jones LLC raised its position in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares in the last quarter. Schnieders Capital Management LLC. boosted its holdings in GE Vernova by 1.7% during the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock worth $828,000 after buying an additional 26 shares in the last quarter. Jump Financial LLC acquired a new stake in GE Vernova during the second quarter valued at $258,000. Ossiam acquired a new stake in GE Vernova during the second quarter valued at $42,000. Finally, Nebula Research & Development LLC increased its holdings in GE Vernova by 23.9% in the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock valued at $886,000 after buying an additional 323 shares in the last quarter.

Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. 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 stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the sale, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GEV shares. Argus set a $1,300.00 target price on GE Vernova in a research note on Monday, April 27th. Morgan Stanley boosted their price target on shares of GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. Robert W. Baird upped 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 report on Thursday, April 23rd. Weiss Ratings raised shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Finally, Zacks Research lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,089.88.

GE Vernova Trading Up 0.2%

NYSE:GEV opened at $1,111.65 on Friday. GE Vernova Inc. has a 1 year low of $479.04 and a 1 year high of $1,181.95. The stock has a market cap of $298.72 billion, a P/E ratio of 32.38, a P/E/G ratio of 4.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The stock has a 50-day simple moving average of $1,022.78 and a 200-day simple moving average of $847.85.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. The business had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. As a group, analysts anticipate that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 5.83%.

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.