Caprock Group LLC Purchases New Position in GE Vernova Inc. $GEV

Caprock Group LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,460 shares of the company’s stock, valued at approximately $13,767,000.

Several other hedge funds also recently made changes to their positions in the company. Bay Harbor Wealth Management LLC boosted its position in shares of GE Vernova by 537.5% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the period. Elevation Wealth Partners LLC increased its position in GE Vernova by 47.2% during the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after buying an additional 17 shares during the period. Deseret Mutual Benefit Administrators increased its position in GE Vernova by 112.0% during the third quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock worth $33,000 after buying an additional 28 shares during the period. WFA Asset Management Corp purchased a new stake in GE Vernova in the second quarter valued at approximately $29,000. Finally, Howard Hughes Medical Institute acquired a new stake in shares of GE Vernova in the second quarter valued at approximately $31,000.

GE Vernova Stock Performance

Shares of GEV opened at $790.62 on Wednesday. The stock has a market capitalization of $213.10 billion, a P/E ratio of 44.42, a P/E/G ratio of 3.19 and a beta of 1.67. The company’s fifty day moving average is $678.26 and its two-hundred day moving average is $631.83. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $814.86.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping the consensus estimate of $2.99 by $10.40. The company had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $1.73 EPS. Sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 5th were given a $0.50 dividend. The ex-dividend date was Monday, January 5th. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. GE Vernova’s payout ratio is 11.24%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GEV. Mizuho set a $714.00 target price on shares of GE Vernova in a research report on Tuesday, February 3rd. Barclays reiterated an “overweight” rating and set a $849.00 price target on shares of GE Vernova in a research note on Monday, February 2nd. Royal Bank Of Canada raised their price objective on shares of GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. The Goldman Sachs Group upped their target price on shares of GE Vernova from $840.00 to $925.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $788.24.

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.