Pictet Asset Management Holding SA Buys 1,501 Shares of GE Vernova Inc. $GEV

Pictet Asset Management Holding SA grew its stake in GE Vernova Inc. (NYSE:GEV) by 0.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 201,995 shares of the company’s stock after acquiring an additional 1,501 shares during the period. Pictet Asset Management Holding SA’s holdings in GE Vernova were worth $176,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Bell Investment Advisors Inc raised its holdings in GE Vernova by 5.2% in the 1st quarter. Bell Investment Advisors Inc now owns 221 shares of the company’s stock valued at $193,000 after acquiring an additional 11 shares during the period. Sky Investment Group LLC boosted its holdings in shares of GE Vernova by 0.5% during the first quarter. Sky Investment Group LLC now owns 2,405 shares of the company’s stock worth $2,099,000 after acquiring an additional 12 shares during the period. Hilton Head Capital Partners LLC boosted its holdings in shares of GE Vernova by 2.6% during the first quarter. Hilton Head Capital Partners LLC now owns 476 shares of the company’s stock worth $416,000 after acquiring an additional 12 shares during the period. Mayfair Advisory Group LLC grew its position in shares of GE Vernova by 2.8% in the first quarter. Mayfair Advisory Group LLC now owns 445 shares of the company’s stock valued at $388,000 after purchasing an additional 12 shares during the last quarter. Finally, RFG Advisory LLC increased its stake in shares of GE Vernova by 2.1% during the fourth quarter. RFG Advisory LLC now owns 634 shares of the company’s stock worth $414,000 after purchasing an additional 13 shares during the period.

GE Vernova Stock Up 0.1%

NYSE GEV opened at $1,045.74 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a 1-year low of $482.20 and a 1-year high of $1,181.95. The company has a 50 day moving average of $1,031.16 and a 200-day moving average of $865.68. The company has a market cap of $281.01 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 3.87 and a beta of 1.24.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the prior year, the business posted $0.91 earnings per share. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. On average, equities research analysts expect that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Insider Buying and Selling at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the 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 directly owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’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 owned 3,549 shares in the company, valued at $3,758,710.41. The trade was a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

GEV has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on GE Vernova from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Wells Fargo & Company upped their price objective on GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. BMO Capital Markets increased their price objective on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Morgan Stanley lifted their target price on GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. Finally, Barclays boosted their target price on shares of GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $1,089.88.

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.