Rockefeller Capital Management L.P. Has $233.70 Million Holdings in GE Vernova Inc. $GEV

Rockefeller Capital Management L.P. boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 16.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 357,577 shares of the company’s stock after purchasing an additional 50,236 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in GE Vernova were worth $233,703,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GEV. Auto Owners Insurance Co increased its holdings in GE Vernova by 110,973.4% during the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after purchasing an additional 34,826,773 shares in the last quarter. Norges Bank bought a new position in shares of GE Vernova in the fourth quarter valued at approximately $2,283,114,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of GE Vernova by 5,171.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock valued at $1,603,114,000 after purchasing an additional 2,406,326 shares in the last quarter. Capital World Investors boosted its position in shares of GE Vernova by 1,907.5% during the third quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock valued at $1,325,842,000 after buying an additional 2,048,792 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its position in shares of GE Vernova by 2,802.8% during the fourth quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock valued at $1,051,407,000 after buying an additional 1,553,295 shares during the last quarter.

GE Vernova Stock Performance

GEV stock opened at $1,111.65 on Friday. The firm has a market cap of $298.72 billion, a PE ratio of 32.38, a P/E/G ratio of 4.11 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 of $1,022.78 and a 200-day moving average of $847.85. GE Vernova Inc. has a 12-month low of $479.04 and a 12-month high of $1,181.95.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping 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 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. GE Vernova’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, sell-side analysts expect that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GEV shares. The Goldman Sachs Group reiterated a “buy” rating and set a $1,328.00 price target on shares of GE Vernova in a report on Friday, April 24th. Weiss Ratings upgraded GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Rothschild & Co Redburn raised shares of GE Vernova from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $560.00 to $1,100.00 in a report on Monday, March 9th. Citigroup upped their target price on shares of GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Finally, JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Three investment 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,089.88.

Insider Buying and Selling at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

GE Vernova 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.