GE Vernova Inc. $GEV Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. reduced its position in GE Vernova Inc. (NYSE:GEV) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 175,369 shares of the company’s stock after selling 1,944 shares during the period. Royal London Asset Management Ltd.’s holdings in GE Vernova were worth $114,616,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in GE Vernova in the fourth quarter valued at $2,283,114,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of GE Vernova by 5,171.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after buying an additional 2,406,326 shares during the last quarter. Capital World Investors boosted its position in shares of GE Vernova by 1,907.5% in the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after buying an additional 2,048,792 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of GE Vernova by 170.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company’s stock worth $722,956,000 after buying an additional 740,339 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in GE Vernova by 1,300.4% in the 4th quarter. Jennison Associates LLC now owns 647,791 shares of the company’s stock valued at $423,377,000 after acquiring an additional 601,533 shares during the last quarter.

Insider Activity at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the transaction, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value 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 SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GEV shares. Argus set a $1,300.00 target price on shares of GE Vernova in a report on Monday, April 27th. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,328.00 price target on shares of GE Vernova in a research report on Friday, April 24th. Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a research note on Thursday, April 23rd. Zacks Research downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Erste Group Bank raised GE Vernova to a “strong-buy” rating in a research note on Tuesday, March 24th. Two equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,085.16.

GE Vernova Price Performance

NYSE:GEV opened at $940.14 on Friday. GE Vernova Inc. has a 12-month low of $474.21 and a 12-month high of $1,181.95. The firm has a market cap of $252.63 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 3.36 and a beta of 1.23. The company’s 50-day moving average is $1,008.85 and its two-hundred 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, topping analysts’ consensus estimates of $1.95 by $15.49. The business had revenue of $9.34 billion during 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 company’s quarterly 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 earnings per share. Research analysts expect that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be paid 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 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.