Panagora Asset Management Inc. Purchases 39,667 Shares of GE Vernova Inc. $GEV

Panagora Asset Management Inc. grew its position in GE Vernova Inc. (NYSE:GEV) by 106.7% in the fourth quarter, Holdings Channel reports. The fund owned 76,842 shares of the company’s stock after acquiring an additional 39,667 shares during the quarter. Panagora Asset Management Inc.’s holdings in GE Vernova were worth $50,222,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Palisade Asset Management LLC lifted its holdings in shares of GE Vernova by 13.0% during the fourth quarter. Palisade Asset Management LLC now owns 444 shares of the company’s stock worth $290,000 after purchasing an additional 51 shares during the period. Resources Management Corp CT ADV lifted its holdings in shares of GE Vernova by 105.2% during the fourth quarter. Resources Management Corp CT ADV now owns 476 shares of the company’s stock worth $311,000 after purchasing an additional 244 shares during the period. Retirement Capital Strategies lifted its holdings in shares of GE Vernova by 3.0% during the fourth quarter. Retirement Capital Strategies now owns 719 shares of the company’s stock worth $470,000 after purchasing an additional 21 shares during the period. MLP3 LLC acquired a new position in shares of GE Vernova during the fourth quarter worth $236,000. Finally, MML Investors Services LLC lifted its holdings in shares of GE Vernova by 3.7% during the fourth quarter. MML Investors Services LLC now owns 38,639 shares of the company’s stock worth $25,254,000 after purchasing an additional 1,374 shares during the period.

GE Vernova Trading Up 4.2%

GEV opened at $980.08 on Tuesday. GE Vernova Inc. has a 1-year low of $479.04 and a 1-year high of $1,181.95. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The company has a market cap of $263.37 billion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 3.49 and a beta of 1.24. The company has a fifty day moving average price of $1,010.48 and a two-hundred day moving average price of $836.38.

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

GE Vernova Dividend Announcement

The business also recently declared 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. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s payout ratio is 5.83%.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. BMO Capital Markets lifted their price target on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. The Goldman Sachs Group restated a “buy” rating and issued a $1,328.00 target price on shares of GE Vernova in a report on Friday, April 24th. Barclays lifted their price objective on GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Finally, Weiss Ratings raised GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $1,085.16.

Insider Buying and Selling at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction 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 directly owned 3,549 shares of the company’s stock, valued at approximately $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.

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.