Pacer Advisors Inc. Buys 5,370 Shares of GE Vernova Inc. $GEV

Pacer Advisors Inc. increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 22.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,096 shares of the company’s stock after buying an additional 5,370 shares during the quarter. Pacer Advisors Inc.’s holdings in GE Vernova were worth $19,016,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in GE Vernova in the fourth quarter worth $2,283,114,000. Northwestern Mutual Wealth Management Co. increased its holdings in GE Vernova by 5,171.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock valued at $1,603,114,000 after buying an additional 2,406,326 shares during the period. Capital World Investors increased its holdings in GE Vernova by 1,907.5% in the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock valued at $1,325,842,000 after buying an additional 2,048,792 shares during the period. Corient Private Wealth LLC raised its stake in shares of GE Vernova by 2,802.8% in the 4th quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock valued at $1,051,407,000 after buying an additional 1,553,295 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of GE Vernova by 170.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company’s stock valued at $722,956,000 after buying an additional 740,339 shares in the last quarter.

GE Vernova Stock Up 0.2%

Shares of NYSE GEV opened at $1,111.65 on Friday. GE Vernova Inc. has a 52-week low of $479.04 and a 52-week high of $1,181.95. 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 business has a fifty day moving average of $1,022.78 and a two-hundred day moving average of $847.85. The stock has a market cap of $298.72 billion, a PE ratio of 32.38, a PEG ratio of 4.11 and a beta of 1.23.

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

GE Vernova Dividend Announcement

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

Insider Activity at GE Vernova

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

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of analyst reports. Citigroup raised their price objective on shares of GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Robert W. Baird upped their target price on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Wells Fargo & Company increased their price target on shares of GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Morgan Stanley raised their price target on shares of GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. Finally, Argus set a $1,300.00 price objective on GE Vernova in a report on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $1,089.88.

GE Vernova 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.