V. M. Manning & CO. Inc. Invests $1.84 Million in GE Vernova Inc. $GEV

V. M. Manning & CO. Inc. acquired a new stake in GE Vernova Inc. (NYSE:GEV) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,484 shares of the company’s stock, valued at approximately $1,844,000. GE Vernova accounts for 2.1% of V. M. Manning & CO. Inc.’s portfolio, making the stock its 9th largest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pines Wealth Management LLC bought a new stake in GE Vernova during the 2nd quarter valued at $408,000. Dupree Financial Group LLC bought a new position in shares of GE Vernova in the second quarter worth $253,000. International Assets Investment Management LLC grew its position in shares of GE Vernova by 18.8% in the second quarter. International Assets Investment Management LLC now owns 3,903 shares of the company’s stock valued at $2,065,000 after purchasing an additional 619 shares in the last quarter. Alpha Financial Partners LLC bought a new stake in shares of GE Vernova during the 2nd quarter valued at $230,000. Finally, Aviva PLC lifted its holdings in GE Vernova by 6.7% during the 2nd quarter. Aviva PLC now owns 205,086 shares of the company’s stock worth $108,521,000 after purchasing an additional 12,790 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. BMO Capital Markets lifted their target price on GE Vernova from $710.00 to $780.00 and gave the company an “outperform” rating in a report on Wednesday. Rothschild & Co Redburn reaffirmed a “sell” rating and set a $475.00 price objective on shares of GE Vernova in a research note on Wednesday, October 15th. Evercore ISI started coverage on shares of GE Vernova in a research note on Monday. They issued an “outperform” rating and a $860.00 target price on the stock. Seaport Res Ptn downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, Rothschild Redb cut shares of GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $662.15.

GE Vernova Price Performance

GEV stock opened at $672.32 on Monday. The firm has a 50 day simple moving average of $597.06 and a two-hundred day simple moving average of $583.51. The stock has a market cap of $182.41 billion, a PE ratio of 109.50, a P/E/G ratio of 5.12 and a beta of 1.71. GE Vernova Inc. has a one year low of $252.25 and a one year high of $731.00.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the firm posted ($0.35) earnings per share. The business’s revenue was up 11.8% on a year-over-year basis. On average, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, January 5th. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio (DPR) is currently 16.29%.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.