Shorepoint Capital Partners LLC Purchases New Holdings in GE Vernova Inc. $GEV

Shorepoint Capital Partners LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,411 shares of the company’s stock, valued at approximately $3,327,000.

Several other hedge funds have also recently made changes to their positions in the company. Sachetta LLC grew its stake in GE Vernova by 10.7% in the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after buying an additional 16 shares in the last quarter. Good Life Advisors LLC lifted its holdings in shares of GE Vernova by 1.0% during the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after acquiring an additional 16 shares during the last quarter. Bell Investment Advisors Inc boosted its holdings in shares of GE Vernova by 6.7% in the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock worth $135,000 after purchasing an additional 16 shares in the last quarter. AMG National Trust Bank grew its holdings in shares of GE Vernova by 1.5% during the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after purchasing an additional 17 shares during the last quarter. Finally, Graney & King LLC grew its stake in shares of GE Vernova by 2.4% during the second quarter. Graney & King LLC now owns 722 shares of the company’s stock valued at $382,000 after buying an additional 17 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GEV. TD Cowen dropped their target price on GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Jefferies Financial Group reissued a “hold” rating and issued a $654.00 price target on shares of GE Vernova in a report on Monday, October 27th. Bank of America upped their price objective on shares of GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Glj Research raised their target price on GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, Royal Bank Of Canada upgraded GE Vernova from a “sector perform” rating to an “outperform” rating and set a $761.00 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-two have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $662.15.

GE Vernova Stock Performance

GEV stock opened at $682.18 on Tuesday. The company has a market capitalization of $185.09 billion, a price-to-earnings ratio of 111.10, a price-to-earnings-growth ratio of 5.12 and a beta of 1.71. The business’s 50 day moving average price is $598.65 and its two-hundred day moving average price is $584.99. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week 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). The firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.35) EPS. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be given a dividend of $0.50 per share. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. GE Vernova’s dividend payout ratio is 32.57%.

GE Vernova Company Profile

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.