GE Vernova Inc. $GEV Shares Purchased by Czech National Bank

Czech National Bank boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 4.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 76,488 shares of the company’s stock after acquiring an additional 3,083 shares during the period. Czech National Bank’s holdings in GE Vernova were worth $89,863,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Auto Owners Insurance Co increased its stake in shares of GE Vernova by 110,973.4% during the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after buying an additional 34,826,773 shares during the period. Norges Bank acquired a new stake in GE Vernova in the fourth quarter valued at approximately $2,283,114,000. Northwestern Mutual Wealth Management Co. lifted its stake in GE Vernova by 5,171.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after acquiring an additional 2,406,326 shares during the last quarter. Corient Private Wealth LLC lifted its stake in GE Vernova by 2,802.8% in the fourth quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock worth $1,051,407,000 after acquiring an additional 1,553,295 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in GE Vernova by 4,358.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,519,799 shares of the company’s stock worth $1,316,076,000 after acquiring an additional 1,485,712 shares in the last quarter.

GE Vernova Stock Performance

Shares of GEV opened at $998.35 on Friday. The company has a market capitalization of $265.89 billion, a price-to-earnings ratio of 28.57, a price-to-earnings-growth ratio of 3.63 and a beta of 1.21. GE Vernova Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average price of $1,026.19 and a 200 day moving average price of $944.87.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share 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 analyst estimates of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.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 business posted $1.86 EPS. Research analysts predict that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

Insiders Place Their Bets

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction 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 directly owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. BNP Paribas Exane downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective on the stock. in a research report on Monday, April 27th. Mizuho lifted their price objective on shares of GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Zacks Research downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Royal Bank Of Canada increased their target price on GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Finally, Citigroup raised their price target on GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,133.15.

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.