GE Vernova Inc. $GEV Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 81,440 shares of the company’s stock after selling 3,265 shares during the period. Resona Asset Management Co. Ltd.’s holdings in GE Vernova were worth $53,373,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. AMF Tjanstepension AB boosted its stake in GE Vernova by 9.0% in the 4th quarter. AMF Tjanstepension AB now owns 97,313 shares of the company’s stock worth $63,601,000 after buying an additional 8,035 shares during the last quarter. Gables Capital Management Inc. boosted its stake in GE Vernova by 8.0% in the 4th quarter. Gables Capital Management Inc. now owns 3,532 shares of the company’s stock worth $2,308,000 after buying an additional 262 shares during the last quarter. Csenge Advisory Group boosted its stake in GE Vernova by 171.9% in the 4th quarter. Csenge Advisory Group now owns 3,214 shares of the company’s stock worth $2,100,000 after buying an additional 2,032 shares during the last quarter. Aviance Capital Partners LLC boosted its stake in GE Vernova by 5.0% in the 4th quarter. Aviance Capital Partners LLC now owns 418 shares of the company’s stock worth $273,000 after buying an additional 20 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in GE Vernova by 2.7% in the 4th quarter. ProShare Advisors LLC now owns 50,474 shares of the company’s stock worth $32,988,000 after buying an additional 1,311 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GEV. Barclays raised their price target on GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Guggenheim lifted their price objective on GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Susquehanna set a $1,300.00 price objective on GE Vernova in a research note on Thursday, April 23rd. Royal Bank Of Canada lifted their price objective on GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Finally, Erste Group Bank raised GE Vernova to a “strong-buy” rating in a research note on Tuesday, March 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $1,090.76.

GE Vernova Stock Performance

NYSE GEV opened at $1,013.61 on Tuesday. The firm has a market capitalization of $272.38 billion, a P/E ratio of 29.53, a P/E/G ratio of 3.93 and a beta of 1.51. GE Vernova Inc. has a 1-year low of $421.64 and a 1-year high of $1,181.95. 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’s 50-day simple moving average is $961.74 and its 200-day simple moving average is $779.07.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. The business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company’s revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 EPS. Equities analysts predict that GE Vernova Inc. will post 14.84 EPS for the current year.

Insider Buying and Selling

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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

About GE Vernova

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.