Resona Asset Management Co. Ltd. Cuts Position in GE Vernova Inc. $GEV

Resona Asset Management Co. Ltd. decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 81,440 shares of the company’s stock after selling 3,265 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in GE Vernova were worth $53,373,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of GEV. Brighton Jones LLC increased its position in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares in the last quarter. Schnieders Capital Management LLC. increased its position in shares of GE Vernova by 1.7% in the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after buying an additional 26 shares in the last quarter. Jump Financial LLC purchased a new position in shares of GE Vernova in the second quarter valued at $258,000. Ossiam purchased a new position in shares of GE Vernova in the second quarter valued at $42,000. Finally, Nebula Research & Development LLC increased its position in shares of GE Vernova by 23.9% in the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company’s stock valued at $886,000 after buying an additional 323 shares in the last quarter.

GE Vernova Stock Down 3.4%

GEV opened at $1,013.61 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The firm has a market cap of $272.38 billion, a P/E ratio of 29.53, a PEG ratio of 3.93 and a beta of 1.51. GE Vernova Inc. has a 52 week low of $421.64 and a 52 week high of $1,181.95. The business’s fifty day simple moving average is $961.74 and its 200 day simple moving average is $779.07.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. The business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 earnings per share. As a group, equities research analysts anticipate that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

Insider Activity at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction on 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 sale, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GEV shares. BNP Paribas Exane cut GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target for the company. in a research report on Monday, April 27th. Mizuho set a $714.00 price target on GE Vernova in a research report on Tuesday, February 3rd. BMO Capital Markets raised their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Argus set a $1,300.00 price target on GE Vernova in a research report on Monday, April 27th. Finally, Jefferies Financial Group raised their price target on GE Vernova from $965.00 to $1,350.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,090.76.

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.