GE Vernova Inc. $GEV Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB lowered its holdings in GE Vernova Inc. (NYSE:GEV) by 5.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,930 shares of the company’s stock after selling 510 shares during the period. E. Ohman J or Asset Management AB’s holdings in GE Vernova were worth $7,795,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GEV. Jackson Grant Investment Advisers Inc. increased its stake in shares of GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares during the last quarter. Cornerstone Financial Management LLC acquired a new stake in shares of GE Vernova in the fourth quarter worth approximately $25,000. Wealth Watch Advisors INC acquired a new stake in shares of GE Vernova in the third quarter worth approximately $25,000. Torren Management LLC purchased a new stake in GE Vernova in the fourth quarter valued at approximately $26,000. Finally, ORG Wealth Partners LLC grew its holdings in GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after purchasing an additional 29 shares during the period.

Insider Buying and Selling

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

Analyst Ratings Changes

GEV has been the subject of several research analyst reports. Susquehanna set a $1,300.00 price target on shares of GE Vernova in a research report on Thursday, April 23rd. Royal Bank Of Canada boosted their price objective on shares of GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a research note on Thursday, April 23rd. The Goldman Sachs Group restated a “buy” rating and set a $1,328.00 price objective on shares of GE Vernova in a report on Friday, April 24th. Finally, Wells Fargo & Company increased their target price on GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Three 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,089.88.

GE Vernova Stock Performance

NYSE:GEV opened at $1,111.65 on Friday. The firm’s fifty day simple moving average is $1,022.78 and its 200 day simple moving average is $847.85. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a twelve month low of $479.04 and a twelve month high of $1,181.95. The firm has a market capitalization of $298.72 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 4.11 and a beta of 1.23.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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 return on equity of 43.97% and a net margin of 23.81%.The company had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period last year, the company posted $0.91 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. As a group, equities research analysts expect that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s dividend 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.