Harvest Fund Management Co. Ltd Trims Position in GE Vernova Inc. $GEV

Harvest Fund Management Co. Ltd lessened its position in shares of GE Vernova Inc. (NYSE:GEVFree Report) by 23.0% in the fourth quarter, Holdings Channel reports. The fund owned 9,431 shares of the company’s stock after selling 2,821 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in GE Vernova were worth $6,162,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of GEV. Brighton Jones LLC increased its position in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares during the last quarter. Schnieders Capital Management LLC. increased its position in GE Vernova by 1.7% during the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after acquiring an additional 26 shares during the last quarter. Jump Financial LLC purchased a new stake in GE Vernova during the second quarter valued at $258,000. Ossiam purchased a new stake in GE Vernova during the second quarter valued at $42,000. Finally, Nebula Research & Development LLC increased its position in GE Vernova by 23.9% during the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock valued at $886,000 after acquiring an additional 323 shares during the last quarter.

GE Vernova Stock Performance

NYSE GEV opened at $963.70 on Friday. The firm has a market cap of $258.96 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 3.59 and a beta of 1.23. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $1,003.51 and a 200-day moving average price of $818.87. GE Vernova Inc. has a twelve month low of $458.65 and a twelve month high of $1,181.95.

GE Vernova (NYSE:GEVGet Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. The firm had revenue of $9.34 billion during 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 business’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 earnings per share. As a group, equities research analysts predict that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is 5.83%.

Analysts Set New Price Targets

A number of analysts recently commented on GEV shares. Morgan Stanley upped their price objective on GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and boosted their price target for the company from $560.00 to $1,100.00 in a report on Monday, March 9th. Wells Fargo & Company boosted their price target on GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Zacks Research lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, BMO Capital Markets boosted their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a 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 issued a Hold rating to the company. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $1,090.76.

Check Out Our Latest Stock Analysis on GEV

Insider Transactions at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the sale, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

More GE Vernova News

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GE Vernova Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for GE Vernova (NYSE:GEV)

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