Tema ETFs LLC Grows Stake in GE Vernova Inc. $GEV

Tema ETFs LLC raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 37.9% during the second quarter, HoldingsChannel.com reports. The firm owned 36,725 shares of the company’s stock after buying an additional 10,099 shares during the period. GE Vernova accounts for 1.4% of Tema ETFs LLC’s portfolio, making the stock its 14th biggest position. Tema ETFs LLC’s holdings in GE Vernova were worth $43,147,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GEV. Cornerstone Financial Management LLC acquired a new position in GE Vernova during the 4th quarter valued at about $25,000. Wealth Watch Advisors INC purchased a new stake in shares of GE Vernova during the third quarter worth about $25,000. Torren Management LLC acquired a new position in shares of GE Vernova during the fourth quarter valued at about $26,000. Manning & Napier Advisors LLC increased its holdings in shares of GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after acquiring an additional 13 shares in the last quarter. Finally, Navalign LLC purchased a new position in shares of GE Vernova in the 4th quarter valued at approximately $27,000.

GE Vernova Trading Up 2.0%

Shares of NYSE:GEV opened at $1,010.59 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The business has a 50 day moving average of $1,028.19 and a two-hundred day moving average of $951.59. The company has a market capitalization of $269.15 billion, a PE ratio of 28.92, a PEG ratio of 3.53 and a beta of 1.21.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. During the same period last year, the firm earned $1.86 earnings per share. GE Vernova’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, analysts forecast that GE Vernova Inc. will post 15.57 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 16th. GE Vernova’s dividend payout ratio is presently 5.72%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Susquehanna set a $1,300.00 target price on shares of GE Vernova in a research note on Thursday, April 23rd. TD Cowen raised their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. BNP Paribas Exane downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective for the company. in a research note on Monday, April 27th. Argus set a $1,300.00 price objective on shares of GE Vernova in a research note on Monday, April 27th. Finally, Barclays boosted their price objective on shares of GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,133.15.

Insider Transactions at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction dated 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 in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction dated Thursday, May 14th. The shares were 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 of the company’s stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by company insiders.

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.