GE Vernova Inc. $GEV Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 175,369 shares of the company’s stock after selling 1,944 shares during the quarter. Royal London Asset Management Ltd. owned approximately 0.07% of GE Vernova worth $114,616,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Corps Capital Advisors LLC acquired a new stake in GE Vernova during the fourth quarter worth approximately $672,000. Boston Family Office LLC purchased a new stake in shares of GE Vernova during the 4th quarter worth approximately $537,000. Saxon Interests Inc. boosted its holdings in shares of GE Vernova by 4.0% in the 4th quarter. Saxon Interests Inc. now owns 518 shares of the company’s stock valued at $339,000 after buying an additional 20 shares in the last quarter. Ieq Capital LLC grew its position in shares of GE Vernova by 12.9% in the 4th quarter. Ieq Capital LLC now owns 91,537 shares of the company’s stock valued at $59,825,000 after buying an additional 10,454 shares during the last quarter. Finally, First National Bank of Omaha grew its position in shares of GE Vernova by 90.1% in the 4th quarter. First National Bank of Omaha now owns 1,863 shares of the company’s stock valued at $1,223,000 after buying an additional 883 shares during the last quarter.

Insider Buying and Selling at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

GE Vernova Trading Up 3.7%

NYSE GEV opened at $940.14 on Friday. The firm’s fifty day moving average is $1,008.85 and its two-hundred day moving average is $831.73. GE Vernova Inc. has a one year low of $474.21 and a one year high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The firm has a market cap of $252.63 billion, a PE ratio of 27.39, a P/E/G ratio of 3.36 and a beta of 1.23.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. The company had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the firm earned $0.91 EPS. Analysts expect that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s dividend payout ratio (DPR) is 5.83%.

Wall Street Analyst Weigh In

GEV has been the subject of a number of research reports. Robert W. Baird boosted their price target on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Zacks Research cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. The Goldman Sachs Group reissued a “buy” rating and issued a $1,328.00 target price on shares of GE Vernova in a report on Friday, April 24th. Rothschild & Co Redburn upgraded GE Vernova from a “sell” rating to a “buy” rating and raised their price target for the stock from $560.00 to $1,100.00 in a research note on Monday, March 9th. Finally, Citigroup lifted their price target on GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,085.16.

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.