Geode Capital Management LLC Grows Stock Position in GE Vernova Inc. $GEV

Geode Capital Management LLC grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,249,193 shares of the company’s stock after purchasing an additional 68,894 shares during the quarter. Geode Capital Management LLC’s holdings in GE Vernova were worth $4,074,039,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. increased its position 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 purchasing an additional 31 shares during the last quarter. Wealth Watch Advisors INC bought a new position in shares of GE Vernova during the 3rd quarter valued at approximately $25,000. Torren Management LLC bought a new position in shares of GE Vernova during the 4th quarter valued at approximately $26,000. ORG Wealth Partners LLC grew its stake in shares of GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after acquiring an additional 29 shares during the period. Finally, Navalign LLC bought a new position in shares of GE Vernova during the 4th quarter valued at approximately $27,000.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Zacks Research downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Wall Street Zen upgraded GE Vernova from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Erste Group Bank upgraded GE Vernova to a “strong-buy” rating in a research note on Tuesday, March 24th. BNP Paribas Exane downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective for the company. in a research note on Monday, April 27th. Finally, BMO Capital Markets boosted their price objective on GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $1,090.76.

Insider Buying and Selling

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction on 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 sale, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. The trade was a 39.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by insiders.

GE Vernova Trading Down 3.6%

GEV stock opened at $1,031.61 on Thursday. GE Vernova Inc. has a 1-year low of $458.65 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 company has a market capitalization of $277.21 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 4.01 and a beta of 1.51. The business has a 50 day simple moving average of $991.69 and a two-hundred day simple moving average of $802.21.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping 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 business had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the company posted $0.91 EPS. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. Research analysts anticipate that GE Vernova Inc. will post 14.84 EPS 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 paid a $0.50 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is presently 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.