Hsbc Holdings PLC Raises Stake in GE Vernova Inc. $GEV

Hsbc Holdings PLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 20.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 677,820 shares of the company’s stock after purchasing an additional 114,917 shares during the quarter. Hsbc Holdings PLC owned about 0.25% of GE Vernova worth $443,503,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Jackson Grant Investment Advisers Inc. boosted its holdings in GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after buying an additional 31 shares in the last quarter. Cornerstone Financial Management LLC purchased a new position in GE Vernova in the fourth quarter valued at about $25,000. Wealth Watch Advisors INC purchased a new position in GE Vernova in the third quarter valued at about $25,000. Torren Management LLC acquired a new stake in shares of GE Vernova during the 4th quarter valued at approximately $26,000. Finally, ORG Wealth Partners LLC lifted its position in shares of GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after acquiring an additional 29 shares during the period.

Analyst Ratings Changes

Several equities research analysts have recently commented on GEV shares. Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and boosted their price target for the stock from $560.00 to $1,100.00 in a research note on Monday, March 9th. Susquehanna set a $1,300.00 price objective on GE Vernova in a report on Thursday, April 23rd. Zacks Research cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Guggenheim boosted their target price on GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $1,328.00 target price on shares of GE Vernova in a report on Friday, April 24th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,089.88.

GE Vernova Stock Up 0.2%

Shares of NYSE GEV opened at $1,111.65 on Friday. The firm’s 50-day moving average is $1,022.78 and its two-hundred day moving average is $847.85. The company has a market capitalization of $298.72 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 4.11 and a beta of 1.23. GE Vernova Inc. has a 12-month low of $479.04 and a 12-month high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period last year, the company posted $0.91 EPS. The company’s revenue was up 17.0% on a year-over-year basis. Equities analysts anticipate that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 5.83%.

Insider Buying and Selling at GE Vernova

In other 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 of the company’s stock, valued at $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction 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 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.

About GE Vernova

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.