GE Vernova Inc. (NYSE:GEV) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its stake in GE Vernova Inc. (NYSE:GEV) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 99,827 shares of the company’s stock after selling 5,710 shares during the quarter. Handelsbanken Fonder AB’s holdings in GE Vernova were worth $30,475,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. FMR LLC lifted its stake in shares of GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company’s stock worth $8,177,803,000 after acquiring an additional 814,155 shares during the period. Capital International Investors lifted its position in GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. Geode Capital Management LLC boosted its holdings in GE Vernova by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock valued at $1,898,814,000 after purchasing an additional 195,828 shares in the last quarter. Norges Bank purchased a new stake in GE Vernova in the 4th quarter valued at approximately $1,109,720,000. Finally, Northern Trust Corp increased its position in GE Vernova by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company’s stock worth $865,126,000 after purchasing an additional 343,837 shares during the period.

Analysts Set New Price Targets

Several analysts have recently commented on the company. TD Cowen reduced their price target on GE Vernova from $405.00 to $390.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Susquehanna reiterated a “positive” rating and issued a $499.00 price objective (up previously from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Citigroup reduced their target price on GE Vernova from $437.00 to $354.00 and set a “neutral” rating for the company in a report on Monday, April 14th. BMO Capital Markets upped their price target on shares of GE Vernova from $381.00 to $522.00 and gave the stock an “outperform” rating in a research note on Friday, May 30th. Finally, The Goldman Sachs Group increased their price target on shares of GE Vernova from $500.00 to $570.00 and gave the company a “buy” rating in a report on Tuesday. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $390.58.

GE Vernova Stock Down 3.2%

GEV opened at $464.57 on Wednesday. The firm has a market cap of $126.80 billion, a P/E ratio of 83.56, a PEG ratio of 3.03 and a beta of 1.97. The business’s fifty day simple moving average is $396.05 and its 200 day simple moving average is $362.54. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $500.72.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.47) EPS. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.22%. GE Vernova’s dividend payout ratio (DPR) is currently 14.41%.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.