Arrowstreet Capital Limited Partnership Sells 168,266 Shares of GE Vernova Inc. $GEV

Arrowstreet Capital Limited Partnership decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 11.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,316,515 shares of the company’s stock after selling 168,266 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in GE Vernova were worth $860,435,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GEV. Torren Management LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at $26,000. Jackson Grant Investment Advisers Inc. grew its holdings in shares of GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the period. Wealth Watch Advisors INC acquired a new position in shares of GE Vernova in the 3rd quarter valued at $25,000. ORG Wealth Partners LLC grew its holdings in shares of GE Vernova by 241.7% in the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after buying an additional 29 shares during the period. Finally, Navalign LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at $27,000.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GEV shares. TD Cowen boosted their price target on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. BNP Paribas Exane lowered shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target for the company. in a report on Monday, April 27th. JPMorgan Chase & Co. boosted their price target 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. BMO Capital Markets boosted their price target on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Finally, 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 report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $1,085.16.

Insider Buying and Selling at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

GE Vernova Trading Up 3.7%

GEV opened at $940.14 on Friday. The stock has a market capitalization of $252.63 billion, a P/E ratio of 27.39, a P/E/G ratio of 3.49 and a beta of 1.23. GE Vernova Inc. has a 12 month low of $474.21 and a 12 month high of $1,181.95. The firm’s fifty day simple moving average is $1,008.85 and its 200 day simple moving average is $831.73. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating the consensus estimate of $1.95 by $15.49. The business had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 EPS. As a group, research analysts anticipate that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business 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 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s payout ratio is currently 5.83%.

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.