Swiss Life Asset Management Ltd Boosts Stake in GE Vernova Inc. $GEV

Swiss Life Asset Management Ltd grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 6.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 93,657 shares of the company’s stock after buying an additional 5,504 shares during the period. Swiss Life Asset Management Ltd’s holdings in GE Vernova were worth $61,211,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. RFG Advisory LLC raised its position in shares of GE Vernova by 2.1% during the 4th quarter. RFG Advisory LLC now owns 634 shares of the company’s stock valued at $414,000 after buying an additional 13 shares in the last quarter. Voisard Asset Management Group Inc. raised its position in shares of GE Vernova by 2.7% during the 4th quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company’s stock valued at $376,000 after buying an additional 15 shares in the last quarter. Clean Yield Group raised its position in shares of GE Vernova by 2.2% during the 4th quarter. Clean Yield Group now owns 685 shares of the company’s stock valued at $448,000 after buying an additional 15 shares in the last quarter. Sutton Place Investors LLC raised its position in shares of GE Vernova by 3.1% during the 4th quarter. Sutton Place Investors LLC now owns 531 shares of the company’s stock valued at $347,000 after buying an additional 16 shares in the last quarter. Finally, Washburn Capital Management Inc. raised its position in shares of GE Vernova by 0.3% during the 4th quarter. Washburn Capital Management Inc. now owns 4,735 shares of the company’s stock valued at $3,095,000 after buying an additional 16 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have recently weighed in on GEV. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a research report on Thursday, April 23rd. Erste Group Bank upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Tuesday, March 24th. The Goldman Sachs Group restated a “buy” rating and set a $1,328.00 price objective on shares of GE Vernova in a research report on Friday, April 24th. Finally, Wells Fargo & Company lifted their target price 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 given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $1,090.76.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $1,040.75 on Monday. The stock has a market cap of $279.67 billion, a PE ratio of 30.32, a PEG ratio of 3.90 and a beta of 1.51. The company’s fifty day moving average is $933.83 and its 200 day moving average is $755.75. GE Vernova Inc. has a 52 week low of $387.03 and a 52 week high of $1,181.95. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. The company 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 quarter last year, the company earned $0.91 EPS. Research analysts anticipate that GE Vernova Inc. will post 14.84 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th were 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 was Tuesday, March 17th. GE Vernova’s dividend payout ratio (DPR) is presently 5.83%.

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.