Pictet Asset Management Holding SA Has $235.34 Million Position in GE Vernova Inc. $GEV

Pictet Asset Management Holding SA trimmed its position in GE Vernova Inc. (NYSE:GEV) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,314 shares of the company’s stock after selling 1,681 shares during the quarter. Pictet Asset Management Holding SA’s holdings in GE Vernova were worth $235,335,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GEV. Auto Owners Insurance Co boosted its position in shares of GE Vernova by 110,973.4% in the fourth 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. Vanguard Group Inc. increased its position in GE Vernova by 0.8% during the fourth 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 period. State Street Corp increased its position in GE Vernova by 2.1% during 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 period. Geode Capital Management LLC raised its stake in GE Vernova by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock worth $4,074,039,000 after purchasing an additional 68,894 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of GE Vernova by 12.8% in the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock valued at $3,957,024,000 after buying an additional 685,466 shares during the period.

Insider Activity at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GEV shares. Oppenheimer upped their target price on GE Vernova from $1,303.00 to $1,338.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. BMO Capital Markets reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Friday, August 7th. Barclays upped their price objective on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Jefferies Financial Group reiterated a “buy” rating on shares of GE Vernova in a research note on Monday, July 27th. Finally, BNP Paribas Exane cut shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective on the stock. in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,133.15.

GE Vernova Trading Up 1.8%

Shares of GEV stock opened at $1,082.30 on Tuesday. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94. The stock’s fifty day simple moving average is $1,037.03 and its 200 day simple moving average is $962.56. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $288.25 billion, a P/E ratio of 30.98, a P/E/G ratio of 3.79 and a beta of 1.21.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.86 earnings per share. As a group, sell-side analysts predict that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

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.