Fjarde AP Fonden Fourth Swedish National Pension Fund Trims Stake in GE Vernova Inc. (NYSE:GEV)

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its position in GE Vernova Inc. (NYSE:GEV) by 22.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,066 shares of the company’s stock after selling 10,600 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in GE Vernova were worth $11,863,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Armstrong Advisory Group Inc. raised its holdings in shares of GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after acquiring an additional 27 shares in the last quarter. Hengehold Capital Management LLC increased its position in shares of GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after purchasing an additional 29 shares during the last quarter. AdvisorNet Financial Inc raised its stake in GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after purchasing an additional 30 shares in the last quarter. Mutual Advisors LLC lifted its position in GE Vernova by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after purchasing an additional 31 shares during the last quarter. Finally, WASHINGTON TRUST Co grew its stake in GE Vernova by 1.9% in the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after buying an additional 31 shares in the last quarter.

GE Vernova Stock Performance

Shares of GEV stock opened at $327.68 on Monday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The firm has a market cap of $90.41 billion and a P/E ratio of 58.93. The business’s 50 day moving average price is $364.41 and its 200-day moving average price is $301.20.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova announced that its Board of Directors has approved a stock buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

GEV has been the topic of several research reports. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Bank of America raised their price target on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Citigroup upped their price objective on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $453.00 price objective on shares of GE Vernova in a report on Tuesday, January 28th. Finally, Marathon Capitl raised GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.