Korea Investment CORP Grows Stock Holdings in GE Vernova Inc. $GEV

Korea Investment CORP raised its stake in GE Vernova Inc. (NYSE:GEV) by 60.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 207,522 shares of the company’s stock after buying an additional 78,442 shares during the period. Korea Investment CORP’s holdings in GE Vernova were worth $135,630,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GEV. Brighton Jones LLC boosted its position in GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares during the period. Schnieders Capital Management LLC. boosted its position in GE Vernova by 1.7% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after buying an additional 26 shares during the period. Jump Financial LLC purchased a new stake in GE Vernova in the 2nd quarter valued at about $258,000. Ossiam purchased a new stake in GE Vernova in the 2nd quarter valued at about $42,000. Finally, Nebula Research & Development LLC boosted its position in GE Vernova by 23.9% in the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock valued at $886,000 after buying an additional 323 shares during the period.

GE Vernova Price Performance

Shares of GEV opened at $940.14 on Friday. The company has a 50 day moving average price of $1,008.85 and a 200-day moving average price of $831.73. GE Vernova Inc. has a fifty-two week low of $474.21 and a fifty-two week high of $1,181.95. The stock has a market capitalization of $252.63 billion, a PE ratio of 27.39, a PEG ratio of 3.36 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89.

GE Vernova (NYSE:GEV) last announced 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 net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter in the prior year, the company earned $0.91 EPS. The company’s revenue was up 17.0% compared to the same quarter last year. Equities analysts predict that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors 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 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio is presently 5.83%.

Insider Buying and Selling

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the sale, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Erste Group Bank raised shares of GE Vernova to a “strong-buy” rating in a research report on Tuesday, March 24th. Rothschild & Co Redburn raised shares of GE Vernova from a “sell” rating to a “buy” rating and upped their price target for the stock from $560.00 to $1,100.00 in a research report on Monday, March 9th. Susquehanna set a $1,300.00 price target on shares of GE Vernova in a research report on Thursday, April 23rd. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Finally, Wells Fargo & Company upped their price target on shares of GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Two 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,085.16.

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.