GE Vernova Inc. $GEV Shares Acquired by PensionDanmark Pensionsforsikringsaktieselskab

PensionDanmark Pensionsforsikringsaktieselskab boosted its stake in GE Vernova Inc. (NYSE:GEV) by 4.1% in the second quarter, Holdings Channel.com reports. The firm owned 55,711 shares of the company’s stock after acquiring an additional 2,211 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in GE Vernova were worth $65,453,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its stake in GE Vernova by 112.9% during the second quarter. Assenagon Asset Management S.A. now owns 224,529 shares of the company’s stock worth $263,790,000 after purchasing an additional 119,068 shares during the period. Apella Capital LLC boosted its holdings in shares of GE Vernova by 6.7% in the 2nd quarter. Apella Capital LLC now owns 1,870 shares of the company’s stock valued at $2,014,000 after purchasing an additional 118 shares during the last quarter. 55 North Private Wealth LLC grew its stake in shares of GE Vernova by 27.3% during the 2nd quarter. 55 North Private Wealth LLC now owns 588 shares of the company’s stock valued at $691,000 after buying an additional 126 shares during the period. Clark Asset Management LLC grew its stake in shares of GE Vernova by 5.6% during the 2nd quarter. Clark Asset Management LLC now owns 435 shares of the company’s stock valued at $511,000 after buying an additional 23 shares during the period. Finally, Evanson Financial LLC acquired a new stake in shares of GE Vernova during the 2nd quarter worth $275,000.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Zacks Research cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. BMO Capital Markets upped their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Susquehanna set a $1,300.00 price objective on GE Vernova in a report on Thursday, April 23rd. JPMorgan Chase & Co. lifted their price objective on GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Finally, Argus set a $1,300.00 target price on GE Vernova in a report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,133.15.

Insider Activity at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction that occurred 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 sale, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

GE Vernova Stock Down 1.9%

Shares of NYSE GEV opened at $998.35 on Friday. The stock has a fifty day moving average price of $1,026.19 and a 200 day moving average price of $944.87. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The company has a market cap of $265.89 billion, a P/E ratio of 28.57, a P/E/G ratio of 3.63 and a beta of 1.21.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. During the same quarter in the prior year, the firm earned $1.86 EPS. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. Research analysts anticipate that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

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.