M&G PLC Acquires 805 Shares of GE Vernova Inc. $GEV

M&G PLC lifted its holdings in GE Vernova Inc. (NYSE:GEV) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,022 shares of the company’s stock after buying an additional 805 shares during the quarter. M&G PLC’s holdings in GE Vernova were worth $15,389,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. WFA Asset Management Corp purchased a new stake in GE Vernova in the second quarter worth about $29,000. Howard Hughes Medical Institute purchased a new position in shares of GE Vernova during the second quarter valued at approximately $31,000. 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 worth $31,000 after purchasing an additional 43 shares in the last quarter. Monetary Management Group Inc. bought a new stake in shares of GE Vernova in the 2nd quarter worth approximately $32,000. Finally, Elevation Wealth Partners LLC grew its stake in shares of GE Vernova by 47.2% in the 3rd 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 last quarter.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GEV. China Renaissance upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, January 29th. Citigroup lifted their price target on GE Vernova from $708.00 to $779.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price target on the stock in a research note on Friday, January 30th. Evercore increased their price objective on shares of GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $930.00 target price on shares of GE Vernova in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Stock Down 1.8%

Shares of GEV stock opened at $801.76 on Tuesday. The company has a 50 day moving average price of $693.45 and a 200-day moving average price of $636.37. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $846.00. The firm has a market capitalization of $216.10 billion, a PE ratio of 45.04, a P/E/G ratio of 3.19 and a beta of 1.67.

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

GE Vernova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 5th were paid a $0.50 dividend. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 11.24%.

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.