GE Vernova Inc. $GEV Shares Purchased by PFG Investments LLC

PFG Investments LLC increased its position in GE Vernova Inc. (NYSE:GEV) by 12.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,034 shares of the company’s stock after acquiring an additional 795 shares during the period. PFG Investments LLC’s holdings in GE Vernova were worth $4,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new position in shares of GE Vernova during the 3rd quarter valued at approximately $6,861,000. Mn Services Vermogensbeheer B.V. raised its holdings in shares of GE Vernova by 1.7% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 103,800 shares of the company’s stock valued at $63,827,000 after acquiring an additional 1,700 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its stake in GE Vernova by 112.0% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock worth $33,000 after purchasing an additional 28 shares during the last quarter. UniSuper Management Pty Ltd grew its stake in GE Vernova by 163.6% during the 3rd quarter. UniSuper Management Pty Ltd now owns 92,936 shares of the company’s stock valued at $57,146,000 after acquiring an additional 57,684 shares in the last quarter. Finally, Hunter Associates Investment Management LLC increased its stake in shares of GE Vernova by 6.8% in the 3rd quarter. Hunter Associates Investment Management LLC now owns 1,522 shares of the company’s stock worth $934,000 after acquiring an additional 97 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GEV. Oppenheimer upgraded shares of GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 price target for the company in a report on Wednesday, December 10th. Citigroup lifted their target price on GE Vernova from $658.00 to $708.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Robert W. Baird reaffirmed a “neutral” rating and issued a $649.00 price target (down previously from $816.00) on shares of GE Vernova in a research note on Friday, January 9th. UBS Group raised their price objective on GE Vernova from $760.00 to $835.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Finally, Wells Fargo & Company upped their target price on shares of GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $701.62.

GE Vernova Trading Down 0.7%

Shares of GE Vernova stock opened at $657.26 on Friday. The stock has a market cap of $178.33 billion, a price-to-earnings ratio of 107.05, a PEG ratio of 2.81 and a beta of 1.67. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $731.00. The company has a fifty day simple moving average of $639.17 and a 200-day simple moving average of $616.62.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). The firm had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm earned ($0.35) EPS. On average, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be paid a $0.50 dividend. This is a boost 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%. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio (DPR) is presently 32.57%.

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.