GE Vernova Inc. $GEV Shares Sold by Swiss National Bank

Swiss National Bank reduced its holdings in GE Vernova Inc. (NYSE:GEV) by 4.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 786,765 shares of the company’s stock after selling 40,700 shares during the quarter. Swiss National Bank’s holdings in GE Vernova were worth $483,782,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GEV. Norges Bank bought a new position in shares of GE Vernova in the second quarter valued at $1,809,220,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of GE Vernova by 273.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock worth $798,126,000 after acquiring an additional 1,104,747 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of GE Vernova by 771.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock worth $403,861,000 after acquiring an additional 675,629 shares during the last quarter. Invesco Ltd. grew its holdings in shares of GE Vernova by 26.3% in the 2nd quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock worth $1,173,262,000 after acquiring an additional 462,038 shares during the last quarter. Finally, Raymond James Financial Inc. raised its position in shares of GE Vernova by 66.0% during the second quarter. Raymond James Financial Inc. now owns 944,567 shares of the company’s stock worth $499,817,000 after purchasing an additional 375,677 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GEV. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 target price for the company in a report on Friday, January 30th. Wall Street Zen upgraded GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Wells Fargo & Company upped their price objective on shares of GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. The Goldman Sachs Group raised their target price on shares of GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Finally, Oppenheimer restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $805.25.

GE Vernova Stock Down 3.1%

GEV stock opened at $790.00 on Monday. The company has a 50 day moving average of $743.08 and a two-hundred day moving average of $656.48. The company has a market cap of $212.93 billion, a price-to-earnings ratio of 44.38, a PEG ratio of 3.14 and a beta of 1.45. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $894.93.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, beating the consensus estimate of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. During the same period in the previous year, the company posted $1.73 EPS. GE Vernova’s revenue was up 3.8% on a year-over-year basis. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s dividend payout ratio is presently 11.24%.

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.