International Assets Investment Management LLC Has $4.96 Million Stock Holdings in GE Vernova Inc. $GEV

International Assets Investment Management LLC increased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 14.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,547 shares of the company’s stock after buying an additional 698 shares during the period. International Assets Investment Management LLC’s holdings in GE Vernova were worth $4,964,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEV. Auto Owners Insurance Co raised its position in GE Vernova by 110,973.4% in the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after purchasing an additional 34,826,773 shares during the last quarter. Vanguard Group Inc. lifted its position in GE Vernova by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after purchasing an additional 208,162 shares during the period. State Street Corp boosted its stake in shares of GE Vernova by 2.1% in the 4th quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after purchasing an additional 231,392 shares during the last quarter. Geode Capital Management LLC boosted its stake in GE Vernova by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock valued at $4,074,039,000 after acquiring an additional 68,894 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of GE Vernova by 12.8% during the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock valued at $3,957,024,000 after acquiring an additional 685,466 shares during the last quarter.

GE Vernova Stock Up 1.4%

NYSE GEV traded up $15.38 on Friday, reaching $1,090.64. The company had a trading volume of 1,737,069 shares, compared to its average volume of 2,887,361. The firm has a market capitalization of $293.08 billion, a price-to-earnings ratio of 31.77, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. GE Vernova Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94. The company’s fifty day moving average is $1,040.14 and its 200-day moving average is $895.32.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $15.49. The firm had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. On average, research analysts forecast that GE Vernova Inc. will post 15.06 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 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is presently 5.83%.

Insider Activity at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This trade represents a 72.42% 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, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

GEV has been the topic of several analyst reports. Robert W. Baird increased their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Wells Fargo & Company boosted their price objective on shares of GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Argus set a $1,300.00 target price on shares of GE Vernova in a report on Monday, April 27th. Jefferies Financial Group reduced their price target on shares of GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating on the stock in a research report on Thursday, June 11th. Finally, Barclays boosted their price target on shares of GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Three equities 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 company’s stock. According to data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $1,089.88.

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.