Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,874 shares of the company’s stock after acquiring an additional 510 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in GE Vernova were worth $4,493,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of GEV. Northwestern Mutual Wealth Management Co. raised its position in shares of GE Vernova by 5,171.3% during the 4th 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 last quarter. Capital World Investors raised its position in shares of GE Vernova by 1,907.5% during the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after purchasing an additional 2,048,792 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of GE Vernova by 170.0% in the third quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company’s stock valued at $722,956,000 after acquiring an additional 740,339 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of GE Vernova by 1,300.4% during the fourth quarter. Jennison Associates LLC now owns 647,791 shares of the company’s stock valued at $423,377,000 after acquiring an additional 601,533 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in GE Vernova by 10,288.6% during the 4th quarter. SG Americas Securities LLC now owns 418,661 shares of the company’s stock worth $273,624,000 after purchasing an additional 414,631 shares in the last quarter.
Insiders Place Their Bets
In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction dated 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 directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.
Wall Street Analyst Weigh In
Check Out Our Latest Analysis on GE Vernova
GE Vernova Stock Performance
NYSE GEV opened at $1,039.71 on Friday. The business’s 50-day moving average price is $978.06 and its 200 day moving average price is $790.29. GE Vernova Inc. has a twelve month low of $458.65 and a twelve month high of $1,181.95. The company has a market capitalization of $279.39 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 3.91 and a beta of 1.51. 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 (NYSE:GEV – Get Free Report) last released its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, research analysts predict that GE Vernova Inc. will post 14.84 earnings per share for the current year.
GE Vernova Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is 5.83%.
About GE Vernova
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.
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