Adams Diversified Equity Fund Inc. Has $37.80 Million Stake in GE Vernova Inc. $GEV

Adams Diversified Equity Fund Inc. reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 5.7% in the 1st quarter, Holdings Channel reports. The firm owned 43,300 shares of the company’s stock after selling 2,600 shares during the quarter. GE Vernova accounts for 1.3% of Adams Diversified Equity Fund Inc.’s investment portfolio, making the stock its 16th largest holding. Adams Diversified Equity Fund Inc.’s holdings in GE Vernova were worth $37,797,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Auto Owners Insurance Co lifted its stake in shares of GE Vernova by 110,973.4% in the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after acquiring an additional 34,826,773 shares during the period. Vanguard Group Inc. raised its holdings in GE Vernova by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock worth $16,354,691,000 after purchasing an additional 208,162 shares during the last quarter. State Street Corp raised its holdings in GE Vernova by 2.1% during the 4th quarter. State Street Corp now owns 11,469,670 shares of the company’s stock worth $7,496,232,000 after purchasing an additional 231,392 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of GE Vernova by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock worth $4,074,039,000 after purchasing an additional 68,894 shares during the period. Finally, Morgan Stanley lifted its position in shares of GE Vernova by 12.8% in the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock worth $3,957,024,000 after purchasing an additional 685,466 shares during the period.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $1,045.74 on Friday. The company has a market cap of $281.01 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 3.87 and a beta of 1.23. The business has a 50 day moving average price of $1,031.16 and a 200-day moving average price of $863.97. GE Vernova Inc. has a 52 week low of $482.20 and a 52 week 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.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping the consensus estimate of $1.95 by $15.49. The firm 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 EPS. Equities analysts anticipate that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently weighed in on GEV. Robert W. Baird lifted their target price on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Erste Group Bank raised shares of GE Vernova to a “strong-buy” rating in a research report on Tuesday, March 24th. Rothschild & Co Redburn upgraded GE Vernova from a “sell” rating to a “buy” rating and increased their price target for the stock from $560.00 to $1,100.00 in a report on Monday, March 9th. Weiss Ratings raised GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, TD Cowen boosted their price objective on GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,089.88.

Insider Buying and Selling at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction dated 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 approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

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.