AMF Tjanstepension AB Has $31.19 Million Stock Holdings in GE Vernova Inc. $GEV

AMF Tjanstepension AB lowered its position in GE Vernova Inc. (NYSE:GEV) by 81.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,726 shares of the company’s stock after selling 228,096 shares during the quarter. AMF Tjanstepension AB’s holdings in GE Vernova were worth $31,191,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in GE Vernova by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock valued at $13,051,258,000 after acquiring an additional 271,958 shares during the period. State Street Corp boosted its position in GE Vernova by 1.9% during the second quarter. State Street Corp now owns 11,097,778 shares of the company’s stock worth $5,872,389,000 after purchasing an additional 206,650 shares during the period. Geode Capital Management LLC raised its position in shares of GE Vernova by 2.2% in the second quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock valued at $3,221,404,000 after purchasing an additional 129,315 shares during the period. Norges Bank acquired a new stake in shares of GE Vernova during the 2nd quarter worth about $1,809,220,000. Finally, Invesco Ltd. boosted its holdings in shares of GE Vernova by 26.3% during the 2nd quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock worth $1,173,262,000 after buying an additional 462,038 shares during the period.

GE Vernova Price Performance

Shares of GEV opened at $657.26 on Friday. The firm has a 50 day simple moving average of $639.17 and a two-hundred day simple moving average of $617.23. GE Vernova Inc. has a one year low of $252.25 and a one year high of $731.00. The company has a market cap of $178.33 billion, a P/E ratio of 107.05, a P/E/G ratio of 2.79 and a beta of 1.67.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period in the previous year, the firm posted ($0.35) EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. On average, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on GEV. Royal Bank Of Canada restated an “outperform” rating and set a $761.00 price objective on shares of GE Vernova in a research report on Monday, December 22nd. Redburn Partners set a $475.00 target price on GE Vernova in a research note on Wednesday, October 15th. Wolfe Research raised GE Vernova from a “peer perform” rating to a “buy” rating in a report on Wednesday, December 10th. Jefferies Financial Group set a $830.00 target price on shares of GE Vernova in a research report on Monday, December 22nd. Finally, Wells Fargo & Company raised their price target on shares of GE Vernova from $717.00 to $831.00 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, eighteen have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $701.62.

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.