Pacer Advisors Inc. Acquires 5,370 Shares of GE Vernova Inc. $GEV

Pacer Advisors Inc. grew its holdings in GE Vernova Inc. (NYSE:GEV) by 22.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 29,096 shares of the company’s stock after buying an additional 5,370 shares during the quarter. Pacer Advisors Inc.’s holdings in GE Vernova were worth $19,016,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in GE Vernova by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock worth $16,354,691,000 after acquiring an additional 208,162 shares during the last quarter. State Street Corp raised its stake in shares of GE Vernova by 2.1% in the fourth quarter. State Street Corp now owns 11,469,670 shares of the company’s stock worth $7,496,232,000 after acquiring an additional 231,392 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of GE Vernova by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock worth $4,074,039,000 after acquiring an additional 68,894 shares during the last quarter. Morgan Stanley lifted its position in shares of GE Vernova by 12.8% during the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock worth $3,957,024,000 after purchasing an additional 685,466 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of GE Vernova during the fourth quarter worth approximately $2,283,114,000.

Wall Street Analyst Weigh In

GEV has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Erste Group Bank upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Tuesday, March 24th. Barclays upped their price objective on GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. BNP Paribas Exane lowered GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective on the stock. in a research report on Monday, April 27th. Finally, Argus set a $1,300.00 target price on GE Vernova in a research note on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,089.88.

GE Vernova Stock Up 0.2%

Shares of NYSE GEV opened at $1,111.65 on Friday. GE Vernova Inc. has a 1 year low of $479.04 and a 1 year high of $1,181.95. The firm’s 50-day moving average is $1,022.78 and its 200-day moving average is $847.85. 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 firm has a market capitalization of $298.72 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 4.11 and a beta of 1.23.

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, topping analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business 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. GE Vernova’s revenue for the quarter was up 17.0% compared to the same quarter last year. Equities analysts expect that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

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

Insiders Place Their Bets

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s 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 owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by 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.