ABN AMRO Bank N.V. Buys 3,339 Shares of GE Vernova Inc. $GEV

ABN AMRO Bank N.V. lifted its stake in GE Vernova Inc. (NYSE:GEV) by 2.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 154,801 shares of the company’s stock after buying an additional 3,339 shares during the quarter. GE Vernova accounts for approximately 1.4% of ABN AMRO Bank N.V.’s holdings, making the stock its 26th largest position. ABN AMRO Bank N.V.’s holdings in GE Vernova were worth $133,406,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GEV. Cornerstone Financial Management LLC bought a new stake in GE Vernova in the 4th quarter valued at $25,000. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova in the third quarter worth about $25,000. Torren Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter worth about $26,000. ORG Wealth Partners LLC lifted its position in shares of GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after buying an additional 29 shares in the last quarter. Finally, Navalign LLC bought a new position in GE Vernova during the fourth quarter valued at approximately $27,000.

Insider Transactions at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’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 value of $2,470,856.97. Following the transaction, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

GE Vernova Stock Down 3.7%

NYSE GEV opened at $1,045.74 on Friday. 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 fifty day moving average of $1,031.16 and a two-hundred day moving average of $863.97. The firm has a market capitalization of $281.01 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 3.87 and a beta of 1.23. GE Vernova Inc. has a 52 week low of $482.20 and a 52 week high of $1,181.95.

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

GE Vernova Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Zacks Research cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. TD Cowen increased their target price on GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Citigroup raised their target price on shares of GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a report on Monday, April 13th. Barclays boosted their price target on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,328.00 price target on shares of GE Vernova in a research note on Friday, April 24th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.