October Effect Ltd Has $2.50 Million Stock Position in GE Vernova Inc. $GEV

October Effect Ltd decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 24.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,064 shares of the company’s stock after selling 1,337 shares during the quarter. GE Vernova makes up approximately 2.8% of October Effect Ltd’s holdings, making the stock its 8th biggest holding. October Effect Ltd’s holdings in GE Vernova were worth $2,499,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GEV. Bay Harbor Wealth Management LLC lifted its holdings 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 during the last quarter. Elevation Wealth Partners LLC increased its position in GE Vernova by 47.2% in 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% in 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 bought a new stake in GE Vernova in the second quarter valued at $29,000. Finally, Howard Hughes Medical Institute acquired a new position in shares of GE Vernova during the second quarter valued at $31,000.

Analysts Set New Price Targets

GEV has been the subject of several recent research reports. Royal Bank Of Canada restated an “outperform” rating and set a $761.00 price target on shares of GE Vernova in a research report on Monday, December 22nd. Rothschild & Co Redburn reissued a “sell” rating and set a $475.00 target price on shares of GE Vernova in a research note on Wednesday, October 15th. JPMorgan Chase & Co. restated an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Wolfe Research raised GE Vernova from a “peer perform” rating to a “buy” rating in a report on Wednesday, December 10th. Finally, BMO Capital Markets boosted their price objective on GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $701.62.

GE Vernova Trading Down 0.7%

GE Vernova stock opened at $657.26 on Friday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $731.00. The stock has a market cap of $178.33 billion, a price-to-earnings ratio of 107.05, a PEG ratio of 2.79 and a beta of 1.67. The company’s 50-day moving average price is $639.17 and its two-hundred day moving average price is $617.23.

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

GE Vernova Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. GE Vernova’s payout ratio is currently 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.