Korea Investment CORP Buys 78,442 Shares of GE Vernova Inc. $GEV

Korea Investment CORP raised its stake in GE Vernova Inc. (NYSE:GEV) by 60.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 207,522 shares of the company’s stock after acquiring an additional 78,442 shares during the period. Korea Investment CORP owned approximately 0.08% of GE Vernova worth $135,630,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. increased 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 worth $25,000 after buying an additional 31 shares during the last quarter. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova in the 3rd quarter worth about $25,000. Torren Management LLC bought a new stake in shares of GE Vernova in the 4th quarter worth about $26,000. ORG Wealth Partners LLC increased 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 worth $27,000 after buying an additional 29 shares during the last quarter. Finally, Navalign LLC bought a new stake in shares of GE Vernova in the 4th quarter worth about $27,000.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Argus set a $1,300.00 target price on shares of GE Vernova in a report on Monday, April 27th. Erste Group Bank upgraded shares of GE Vernova to a “strong-buy” rating in a report on Tuesday, March 24th. Zacks Research downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Guggenheim boosted their target price on shares of GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Finally, Jefferies Financial Group reduced their target price on shares of GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating on the stock in a report on Thursday. Two 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 a consensus rating of “Moderate Buy” and a consensus target price of $1,085.16.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $940.14 on Friday. The company has a market capitalization of $252.63 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 3.36 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 50-day moving average is $1,008.85 and its 200 day 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 issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating the consensus estimate of $1.95 by $15.49. The company had revenue of $9.34 billion for the quarter, compared to the consensus estimate 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 prior year, the firm posted $0.91 EPS. Research analysts predict that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s dividend payout ratio is presently 5.83%.

Insider Activity

In related news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

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.