GE Vernova Inc. $GEV Shares Sold by Varma Mutual Pension Insurance Co
by Scott Moore · The Cerbat GemVarma Mutual Pension Insurance Co lowered its position in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,943 shares of the company’s stock after selling 1,800 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in GE Vernova were worth $28,720,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors raised its position in shares of GE Vernova by 1,907.5% during the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after purchasing an additional 2,048,792 shares during the period. Franklin Resources Inc. raised its position in shares of GE Vernova by 170.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company’s stock worth $722,956,000 after purchasing an additional 740,339 shares during the period. Jennison Associates LLC raised its position in shares of GE Vernova by 1,300.4% during the 4th quarter. Jennison Associates LLC now owns 647,791 shares of the company’s stock worth $423,377,000 after purchasing an additional 601,533 shares during the period. SG Americas Securities LLC raised its position in shares of GE Vernova by 10,288.6% during the 4th quarter. SG Americas Securities LLC now owns 418,661 shares of the company’s stock worth $273,624,000 after purchasing an additional 414,631 shares during the period. Finally, Raymond James Financial Inc. raised its position in shares of GE Vernova by 66.0% during the 2nd 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.
GE Vernova Stock Down 0.0%
GEV opened at $1,062.78 on Monday. GE Vernova Inc. has a 12 month low of $385.55 and a 12 month 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 stock has a market cap of $285.59 billion, a P/E ratio of 30.96, a P/E/G ratio of 3.98 and a beta of 1.51. The stock’s 50 day moving average price is $919.40 and its 200 day moving average price is $745.60.
GE Vernova (NYSE:GEV – Get Free Report) last posted its earnings results 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 firm had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period last year, the firm earned $0.91 EPS. The firm’s revenue was up 17.0% compared to the same quarter last year. As a group, research analysts predict that GE Vernova Inc. will post 14.84 earnings per share for the current year.
GE Vernova Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date was Tuesday, March 17th. GE Vernova’s dividend payout ratio (DPR) is currently 5.83%.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on GEV shares. Robert W. Baird increased their price target on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. China Renaissance upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, January 29th. BMO Capital Markets increased their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. UBS Group reiterated a “buy” rating on shares of GE Vernova in a research report on Thursday, January 29th. Finally, Morgan Stanley increased their price target on GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a research report on Monday, March 23rd. Two investment 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,090.76.
Read Our Latest Analysis on GE Vernova
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.
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