BI Asset Management Fondsmaeglerselskab A S Grows Holdings in GE Vernova Inc. $GEV

BI Asset Management Fondsmaeglerselskab A S boosted its position in GE Vernova Inc. (NYSE:GEV) by 80.8% in the first quarter, HoldingsChannel reports. The firm owned 27,494 shares of the company’s stock after buying an additional 12,283 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in GE Vernova were worth $24,000,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GEV. Auto Owners Insurance Co lifted its position in shares of GE Vernova by 110,973.4% during the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after buying an additional 34,826,773 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of GE Vernova by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after acquiring an additional 208,162 shares in the last quarter. State Street Corp increased its position in shares of GE Vernova by 2.1% during the fourth quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after acquiring an additional 231,392 shares during the last quarter. Geode Capital Management LLC increased its position in shares of GE Vernova by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock valued at $4,074,039,000 after acquiring an additional 68,894 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of GE Vernova by 12.8% during the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock valued at $3,957,024,000 after acquiring an additional 685,466 shares during the last quarter.

Insiders Place Their Bets

In other news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the sale, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

GE Vernova Price Performance

GEV opened at $1,111.65 on Friday. The firm has a 50-day moving average price of $1,022.78 and a 200-day moving average price of $847.85. GE Vernova Inc. has a twelve month low of $479.04 and a twelve month high of $1,181.95. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $298.72 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 4.11 and a beta of 1.23.

GE Vernova (NYSE:GEV) last announced its quarterly 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. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company 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. GE Vernova’s revenue was up 17.0% compared to the same quarter last year. Equities analysts expect that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be given a $0.50 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s payout ratio is 5.83%.

Analyst Ratings Changes

Several research analysts have weighed in on GEV shares. Barclays boosted their price objective on GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Weiss Ratings raised GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Morgan Stanley lifted their target price on GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. Jefferies Financial Group lowered their target price on GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating on the stock in a research note on Thursday, June 11th. Finally, Royal Bank Of Canada boosted their price target 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. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,089.88.

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.