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

Capital Group Investment Management PTE. LTD. grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 100.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GEV. Jackson Grant Investment Advisers Inc. raised its holdings 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 valued at $25,000 after purchasing an additional 31 shares during the last quarter. Bay Harbor Wealth Management LLC boosted its holdings in GE Vernova by 537.5% during the third 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 stake in GE Vernova by 47.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after buying an additional 17 shares during the last quarter. Deseret Mutual Benefit Administrators increased its stake in GE Vernova by 112.0% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock valued at $33,000 after buying an additional 28 shares during the last quarter. Finally, Howard Hughes Medical Institute bought a new position in shares of GE Vernova during the 2nd quarter worth approximately $31,000.

GE Vernova Stock Up 5.1%

NYSE GEV opened at $829.66 on Tuesday. The company’s 50 day moving average is $746.41 and its 200-day moving average is $658.06. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $894.93. The firm has a market cap of $223.62 billion, a P/E ratio of 46.61, a price-to-earnings-growth ratio of 3.14 and a beta of 1.44.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 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 analyst estimates of $10.21 billion. During the same period last year, the business earned $1.73 earnings per share. GE Vernova’s revenue was up 3.8% compared to the same quarter last year. Equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GEV. BMO Capital Markets restated an “outperform” rating and issued a $785.00 target price on shares of GE Vernova in a research note on Thursday, January 29th. Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and increased their price target for the company from $560.00 to $1,100.00 in a research report on Monday. The Goldman Sachs Group lifted their price target on GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Susquehanna upped their price objective on GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a research note on Thursday, January 29th. Finally, Glj Research raised their target price on GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has an average 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.