Quantinno Capital Management LP Grows Stock Position in GE Vernova Inc. $GEV

Quantinno Capital Management LP increased its stake in GE Vernova Inc. (NYSE:GEV) by 33.3% in the first quarter, HoldingsChannel reports. The fund owned 128,022 shares of the company’s stock after purchasing an additional 31,984 shares during the period. Quantinno Capital Management LP’s holdings in GE Vernova were worth $111,751,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GEV. Auto Owners Insurance Co increased its stake in GE Vernova by 110,973.4% in the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after purchasing an additional 34,826,773 shares during the period. Norges Bank bought a new stake in GE Vernova in the fourth quarter valued at approximately $2,283,114,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of GE Vernova by 5,171.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock valued at $1,603,114,000 after purchasing an additional 2,406,326 shares during the period. Corient Private Wealth LLC boosted its stake in shares of GE Vernova by 2,802.8% during the fourth quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock valued at $1,051,407,000 after purchasing an additional 1,553,295 shares during the period. Finally, Morgan Stanley grew its holdings in shares of GE Vernova by 12.8% in the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock worth $3,957,024,000 after purchasing an additional 685,466 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Sanford C. Bernstein upped their price target on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the company an “outperform” rating in a report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of GE Vernova in a report on Tuesday, July 21st. Jefferies Financial Group restated a “buy” rating on shares of GE Vernova in a research report on Monday. Morgan Stanley upped their price objective on shares of GE Vernova from $1,250.00 to $1,350.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $1,328.00 target price on shares of GE Vernova in a report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,133.15.

GE Vernova Stock Performance

Shares of GEV stock opened at $997.11 on Tuesday. The stock has a fifty day moving average of $1,034.12 and a 200 day moving average of $925.93. GE Vernova Inc. has a 52 week low of $530.16 and a 52 week high of $1,195.94. The firm has a market capitalization of $265.56 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 3.72 and a beta of 1.09. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The company had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.86 earnings per share. As a group, research analysts expect that GE Vernova Inc. will post 15.16 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is presently 5.72%.

Insider Transactions at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the stock in a transaction dated 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 completion of 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was 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 owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

GE Vernova Company 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.