GE Vernova Inc. $GEV Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its position in shares of GE Vernova Inc. (NYSE:GEV) by 49.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,266 shares of the company’s stock after selling 20,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in GE Vernova were worth $13,076,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in GEV. Sunbeam Capital Management LLC raised its holdings in GE Vernova by 14.9% during the third quarter. Sunbeam Capital Management LLC now owns 694 shares of the company’s stock worth $427,000 after purchasing an additional 90 shares in the last quarter. Kennedy Investment Group increased its position in GE Vernova by 7.1% during the 3rd quarter. Kennedy Investment Group now owns 422 shares of the company’s stock worth $260,000 after purchasing an additional 28 shares during the period. Conning Inc. raised its stake in shares of GE Vernova by 2.1% during the 3rd quarter. Conning Inc. now owns 1,727 shares of the company’s stock worth $1,062,000 after buying an additional 36 shares in the last quarter. Impact Capital Partners LLC lifted its holdings in shares of GE Vernova by 22.3% in the 3rd quarter. Impact Capital Partners LLC now owns 685 shares of the company’s stock valued at $421,000 after buying an additional 125 shares during the period. Finally, Octavia Wealth Advisors LLC lifted its holdings in shares of GE Vernova by 74.4% in the 3rd quarter. Octavia Wealth Advisors LLC now owns 762 shares of the company’s stock valued at $469,000 after buying an additional 325 shares during the period.

GE Vernova Trading Up 6.2%

NYSE:GEV opened at $681.78 on Friday. The company has a market capitalization of $184.98 billion, a P/E ratio of 111.04, a price-to-earnings-growth ratio of 2.69 and a beta of 1.67. The firm has a 50-day moving average price of $629.47 and a two-hundred day moving average price of $611.23. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $731.00.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). The business had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the company earned ($0.35) EPS. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be issued a dividend of $0.50 per share. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. GE Vernova’s payout ratio is currently 32.57%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GEV. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Glj Research upped their price target on shares of GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company raised their price objective on shares of GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Mizuho decreased their price objective on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Finally, Morgan Stanley upped their target price on shares of GE Vernova from $710.00 to $822.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $703.04.

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.