Massachusetts Financial Services Co. MA Cuts Stake in GE Vernova Inc. $GEV

Massachusetts Financial Services Co. MA lessened its stake in GE Vernova Inc. (NYSE:GEV) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,918,959 shares of the company’s stock after selling 77,060 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.71% of GE Vernova worth $1,179,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GEV. Meitav Investment House Ltd. increased its stake in GE Vernova by 40.0% during the 3rd quarter. Meitav Investment House Ltd. now owns 700 shares of the company’s stock valued at $430,000 after purchasing an additional 200 shares in the last quarter. Aviance Capital Partners LLC purchased a new stake in shares of GE Vernova during the third quarter valued at approximately $245,000. Maryland State Retirement & Pension System grew its holdings in shares of GE Vernova by 2.7% during the third quarter. Maryland State Retirement & Pension System now owns 13,648 shares of the company’s stock valued at $8,392,000 after buying an additional 360 shares during the last quarter. Dupree Financial Group LLC increased its position in shares of GE Vernova by 10.0% during the third quarter. Dupree Financial Group LLC now owns 526 shares of the company’s stock valued at $323,000 after acquiring an additional 48 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in GE Vernova by 14.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 28,313 shares of the company’s stock worth $17,410,000 after acquiring an additional 3,467 shares during the last quarter.

Wall Street Analysts Forecast Growth

GEV has been the topic of several recent analyst reports. TD Cowen cut their target price on GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $761.00 price target on shares of GE Vernova in a report on Monday, December 22nd. Baird R W downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, January 9th. Morgan Stanley boosted their target price on GE Vernova from $710.00 to $822.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Finally, Oppenheimer raised shares of GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 price target on the stock in a report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $703.04.

GE Vernova Stock Up 6.2%

NYSE GEV opened at $681.78 on Friday. The company has a 50-day moving average price of $629.47 and a 200-day moving average price of $611.97. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $731.00. The firm has a market capitalization of $184.98 billion, a P/E ratio of 111.04, a PEG ratio of 2.85 and a beta of 1.67.

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 business had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same period in the previous year, the business posted ($0.35) EPS. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be paid a $0.50 dividend. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is currently 32.57%.

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.