Danske Bank A S Takes Position in GE Vernova Inc. $GEV

Danske Bank A S purchased a new position in GE Vernova Inc. (NYSE:GEV) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 148,150 shares of the company’s stock, valued at approximately $91,097,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in GE Vernova by 0.6% in the third quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock valued at $15,259,028,000 after purchasing an additional 150,892 shares in the last quarter. State Street Corp raised its stake in shares of GE Vernova by 1.3% during the 3rd quarter. State Street Corp now owns 11,238,278 shares of the company’s stock worth $6,910,417,000 after purchasing an additional 140,500 shares in the last quarter. Norges Bank purchased a new stake in shares of GE Vernova during the 2nd quarter worth about $1,809,220,000. Northern Trust Corp lifted its holdings in shares of GE Vernova by 1.8% during the 3rd quarter. Northern Trust Corp now owns 2,877,458 shares of the company’s stock valued at $1,769,349,000 after buying an additional 51,738 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of GE Vernova by 7.1% during the 3rd quarter. Invesco Ltd. now owns 2,375,738 shares of the company’s stock valued at $1,460,841,000 after buying an additional 158,481 shares during the last quarter.

GE Vernova Stock Performance

Shares of GEV stock opened at $843.39 on Wednesday. The stock’s 50 day simple moving average is $765.97 and its 200 day simple moving average is $667.09. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $894.93. The company has a market capitalization of $227.32 billion, a price-to-earnings ratio of 47.38, a PEG ratio of 3.29 and a beta of 1.44.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The firm had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. On average, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s payout ratio is presently 11.24%.

Wall Street Analyst Weigh In

A number of research firms recently commented on GEV. The Goldman Sachs Group increased their price objective on GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Wells Fargo & Company lifted their target price on shares of GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Barclays restated an “overweight” rating and set a $849.00 price target on shares of GE Vernova in a research note on Monday, February 2nd. Finally, Bank of America lifted their price objective on shares of GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $831.29.

About GE Vernova

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.