Capital Group Investment Management PTE. LTD. Acquires 1,949 Shares of GE Vernova Inc. $GEV

Capital Group Investment Management PTE. LTD. raised its holdings in GE Vernova Inc. (NYSE:GEV) by 100.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,895 shares of the company’s stock after acquiring an additional 1,949 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in GE Vernova were worth $2,395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jackson Grant Investment Advisers Inc. increased its position in shares of GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the last quarter. Howard Hughes Medical Institute bought a new stake in GE Vernova during the second quarter valued at approximately $31,000. Bay Harbor Wealth Management LLC lifted its position in GE Vernova by 537.5% during the third 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 last quarter. Monetary Management Group Inc. purchased a new position in GE Vernova in the 2nd quarter worth approximately $32,000. Finally, Elevation Wealth Partners LLC grew its stake in 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 in the last quarter.

GE Vernova Stock Performance

GEV stock opened at $829.66 on Tuesday. The company has a market capitalization of $223.62 billion, a PE ratio of 46.61, a price-to-earnings-growth ratio of 3.14 and a beta of 1.44. GE Vernova Inc. has a one year low of $252.25 and a one year high of $894.93. The company’s 50 day moving average price is $746.41 and its two-hundred day moving average price is $658.06.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $10.21 billion. During the same quarter in the prior year, the company earned $1.73 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. On average, research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s dividend payout ratio is presently 11.24%.

Analyst Ratings Changes

Several analysts have recently weighed in on GEV shares. Robert W. Baird set a $923.00 price objective on shares of GE Vernova and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Citigroup upped their target price on shares of GE Vernova from $708.00 to $779.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 10th. JPMorgan Chase & Co. restated an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Finally, Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price target for the company in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $831.29.

GE Vernova 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.