Swedbank AB Boosts Stock Position in GE Vernova Inc. $GEV

Swedbank AB boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 1.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 156,772 shares of the company’s stock after purchasing an additional 1,900 shares during the quarter. Swedbank AB’s holdings in GE Vernova were worth $102,461,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased 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 increased its holdings in GE Vernova by 1.3% during the 3rd quarter. State Street Corp now owns 11,238,278 shares of the company’s stock worth $6,910,417,000 after purchasing an additional 140,500 shares during the last quarter. Northern Trust Corp increased its holdings in GE Vernova by 1.8% during the 3rd quarter. Northern Trust Corp now owns 2,877,458 shares of the company’s stock worth $1,769,349,000 after purchasing an additional 51,738 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in GE Vernova by 5,171.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after purchasing an additional 2,406,326 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in GE Vernova by 7.1% during the 3rd quarter. Invesco Ltd. now owns 2,375,738 shares of the company’s stock worth $1,460,841,000 after purchasing an additional 158,481 shares during the last quarter.

Insider Transactions at GE Vernova

In related news, 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 transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. The trade was a 39.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GEV shares. Robert W. Baird lifted their price objective on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Morgan Stanley lifted their price objective on GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. Weiss Ratings upgraded GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. BMO Capital Markets upped their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Finally, Guggenheim upped their price target on GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,090.76.

GE Vernova Trading Down 0.4%

NYSE:GEV opened at $1,039.71 on Friday. GE Vernova Inc. has a 12-month low of $458.65 and a 12-month high of $1,181.95. The firm has a market capitalization of $279.39 billion, a P/E ratio of 30.29, a P/E/G ratio of 3.89 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The business has a 50 day simple moving average of $978.06 and a 200 day simple moving average of $790.29.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. Equities research analysts predict that GE Vernova Inc. will post 14.84 EPS 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 dividend of $0.50 per share. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. 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.