AMF Tjanstepension AB Acquires 8,035 Shares of GE Vernova Inc. $GEV

AMF Tjanstepension AB grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 9.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 97,313 shares of the company’s stock after purchasing an additional 8,035 shares during the period. AMF Tjanstepension AB’s holdings in GE Vernova were worth $63,601,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GEV. Jackson Grant Investment Advisers Inc. boosted its stake in shares of GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. Wealth Watch Advisors INC acquired a new stake in shares of GE Vernova during the third quarter valued at about $25,000. Torren Management LLC acquired a new stake in shares of GE Vernova during the fourth quarter valued at about $26,000. ORG Wealth Partners LLC boosted its stake in shares of GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after purchasing an additional 29 shares in the last quarter. Finally, Navalign LLC acquired a new stake in shares of GE Vernova during the fourth quarter valued at about $27,000.

Insider Activity at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

GE Vernova Price Performance

GE Vernova stock opened at $1,013.61 on Tuesday. The stock’s 50 day moving average is $961.74 and its 200 day moving average is $779.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The firm has a market cap of $272.38 billion, a P/E ratio of 29.53, a P/E/G ratio of 3.93 and a beta of 1.51. GE Vernova Inc. has a one year low of $421.64 and a one year high of $1,181.95.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. The company had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 earnings per share. As a group, research analysts expect that GE Vernova Inc. will post 14.84 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Oppenheimer set a $1,303.00 price target on GE Vernova in a research note on Thursday, April 23rd. Citigroup lifted their price target on GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Mizuho set a $714.00 price target on GE Vernova in a research note on Tuesday, February 3rd. Wells Fargo & Company lifted their price target on GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Finally, Susquehanna set a $1,300.00 price target on GE Vernova in a research note on Thursday, April 23rd. Two 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 company’s stock. Based on data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $1,090.76.

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.