AMF Tjanstepension AB Has $147.54 Million Stake in GE Vernova Inc. $GEV

AMF Tjanstepension AB grew its holdings in GE Vernova Inc. (NYSE:GEV) by 56.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 278,822 shares of the company’s stock after purchasing an additional 100,247 shares during the period. GE Vernova comprises 1.0% of AMF Tjanstepension AB’s portfolio, making the stock its 24th largest holding. AMF Tjanstepension AB owned about 0.10% of GE Vernova worth $147,543,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in GEV. EQ Wealth Advisors LLC acquired a new position in shares of GE Vernova in the 1st quarter valued at about $27,000. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova in the 1st quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 53 shares during the period. 1248 Management LLC acquired a new position in GE Vernova in the first quarter worth approximately $31,000. Finally, Saudi Central Bank acquired a new position in GE Vernova in the first quarter worth approximately $33,000.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Stock Down 1.8%

Shares of GE Vernova stock opened at $595.07 on Friday. The stock has a market capitalization of $161.99 billion, a P/E ratio of 143.39, a PEG ratio of 4.42 and a beta of 1.72. The stock has a 50 day moving average price of $623.21 and a two-hundred day moving average price of $498.89. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio is presently 24.10%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Robert W. Baird increased their price objective on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective on the stock in a report on Monday, September 15th. Bank of America increased their price objective on GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Royal Bank Of Canada set a $605.00 price objective on GE Vernova and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $598.50.

GE Vernova Company 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.