Employees Provident Fund Board Invests $6.86 Million in GE Vernova Inc. $GEV

Employees Provident Fund Board acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 10,500 shares of the company’s stock, valued at approximately $6,862,000.

Other large investors have also recently bought and sold shares of the company. Tulsa Wealth Advisors INC purchased a new stake in GE Vernova during the fourth quarter worth about $1,376,000. NWF Advisory Services Inc. boosted its holdings in shares of GE Vernova by 315.8% during the fourth quarter. NWF Advisory Services Inc. now owns 2,216 shares of the company’s stock worth $1,449,000 after purchasing an additional 1,683 shares during the last quarter. Bank of Hawaii acquired a new stake in GE Vernova in the 4th quarter worth about $2,862,000. Caitong International Asset Management Co. Ltd grew its stake in shares of GE Vernova by 269.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 603 shares of the company’s stock valued at $394,000 after buying an additional 440 shares during the period. Finally, Sankala Group LLC purchased a new stake in GE Vernova during the fourth quarter valued at about $152,000.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GEV shares. Erste Group Bank raised shares of GE Vernova to a “strong-buy” rating in a research report on Tuesday, March 24th. Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and upped their price target for the company from $560.00 to $1,100.00 in a research report on Monday, March 9th. BMO Capital Markets lifted their target price on GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Oppenheimer set a $1,303.00 price target on shares of GE Vernova in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. increased their price objective on GE Vernova from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,089.88.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $1,111.65 on Friday. GE Vernova Inc. has a 52-week low of $479.04 and a 52-week high of $1,181.95. The stock’s fifty day simple moving average is $1,022.78 and its 200 day simple moving average is $847.85. The stock has a market capitalization of $298.72 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 4.11 and a beta of 1.23. 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 released its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period last year, the firm posted $0.91 earnings per share. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, sell-side analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal 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. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is 5.83%.

Insider Buying and Selling

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The SEC filing for this sale provides additional information. Corporate 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.