Pictet Asset Management Holding SA Has $176.23 Million Stock Position in GE Vernova Inc. $GEV

Pictet Asset Management Holding SA increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 201,995 shares of the company’s stock after buying an additional 1,501 shares during the quarter. Pictet Asset Management Holding SA owned 0.08% of GE Vernova worth $176,231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares during the period. Schnieders Capital Management LLC. raised its position in shares of GE Vernova by 1.7% during the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock worth $828,000 after purchasing an additional 26 shares during the period. Jump Financial LLC bought a new position in shares of GE Vernova during the 2nd quarter valued at about $258,000. Ossiam bought a new position in shares of GE Vernova during the 2nd quarter valued at about $42,000. Finally, Nebula Research & Development LLC grew its position in shares of GE Vernova by 23.9% in the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock valued at $886,000 after purchasing an additional 323 shares during the period.

Analysts Set New Price Targets

GEV has been the subject of a number of research reports. Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and increased their target price for the stock from $560.00 to $1,100.00 in a research note on Monday, March 9th. BMO Capital Markets lifted their price target on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Weiss Ratings upgraded shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Finally, Jefferies Financial Group dropped their price objective on shares of GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating on the stock in a report on Thursday, June 11th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,089.88.

Insider Activity at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s 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 transaction of $2,470,856.97. Following the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. The trade was a 39.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% 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.

GE Vernova Stock Up 0.1%

GE Vernova stock 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 fifty day simple moving average of $1,031.16 and a 200 day simple moving average of $865.68. The company has a market cap of $281.01 billion, a P/E ratio of 30.46, a price-to-earnings-growth 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 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the previous year, the firm posted $0.91 EPS. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. Research analysts anticipate that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

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.