Tema ETFs LLC Increases Position in GE Vernova Inc. $GEV

Tema ETFs LLC grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 37.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,725 shares of the company’s stock after buying an additional 10,099 shares during the quarter. GE Vernova accounts for about 1.4% of Tema ETFs LLC’s investment portfolio, making the stock its 14th biggest position. Tema ETFs LLC’s holdings in GE Vernova were worth $43,147,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Auto Owners Insurance Co boosted its holdings in GE Vernova by 110,973.4% during the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after acquiring an additional 34,826,773 shares during the period. Norges Bank purchased a new stake in GE Vernova in the fourth quarter worth $2,283,114,000. Northwestern Mutual Wealth Management Co. increased its stake in GE Vernova by 5,171.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock worth $1,603,114,000 after purchasing an additional 2,406,326 shares during the period. Corient Private Wealth LLC lifted its position in shares of GE Vernova by 2,802.8% during the fourth quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock worth $1,051,407,000 after purchasing an additional 1,553,295 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of GE Vernova by 4,358.6% during the first quarter. Janus Henderson Group PLC now owns 1,519,799 shares of the company’s stock worth $1,316,076,000 after purchasing an additional 1,485,712 shares during the last quarter.

Insider Activity at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction that occurred 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 owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GEV. Zacks Research cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Argus set a $1,300.00 price objective on shares of GE Vernova in a report on Monday, April 27th. 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 research report on Thursday, April 23rd. Sanford C. Bernstein upped their target price on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Finally, William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $1,133.15.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $1,010.59 on Wednesday. The firm has a market cap of $269.15 billion, a P/E ratio of 28.92, a P/E/G ratio of 3.53 and a beta of 1.21. 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 stock’s fifty day moving average price is $1,028.19 and its 200-day moving average price is $951.59.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The business had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. During the same period last year, the company earned $1.86 earnings per share. The firm’s revenue was up 21.9% compared to the same quarter last year. On average, equities research analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

GE Vernova Company 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.