AMF Tjanstepension AB Has $81.47 Million Holdings in GE Vernova Inc. $GEV

AMF Tjanstepension AB cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 4.1% during the first quarter, Holdings Channel reports. The fund owned 93,333 shares of the company’s stock after selling 3,980 shares during the period. AMF Tjanstepension AB’s holdings in GE Vernova were worth $81,470,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cornerstone Financial Management LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at $25,000. Wealth Watch Advisors INC acquired a new stake in shares of GE Vernova in the 3rd quarter valued at $25,000. Torren Management LLC acquired a new stake in shares of GE Vernova in the 4th quarter valued at $26,000. Manning & Napier Advisors LLC raised its position in shares of GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after acquiring an additional 13 shares during the last quarter. Finally, ORG Wealth Partners LLC raised its position in shares of GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after acquiring an additional 29 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GEV. Robert W. Baird raised their price target on GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Barclays boosted their price objective on GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Guggenheim upped their target price on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. BMO Capital Markets raised their target price on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Finally, Wall Street Zen upgraded shares of GE Vernova from a “hold” rating to a “buy” rating in a research report on Sunday. 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’s stock. Based on data from MarketBeat, GE Vernova 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, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction 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 directly owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction 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 completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $1,090.64 on Monday. The company has a market capitalization of $293.08 billion, a price-to-earnings ratio of 31.77, a P/E/G ratio of 4.03 and a beta of 1.09. The firm’s 50 day simple moving average is $1,040.14 and its 200 day simple moving average is $896.97. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, sell-side analysts forecast that GE Vernova Inc. will post 15.06 earnings per share for the current 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 given a $0.50 dividend. 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 payout ratio is currently 5.83%.

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.