Wolverine Asset Management LLC Buys New Shares in GE Vernova Inc. $GEV

Wolverine Asset Management LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,000 shares of the company’s stock, valued at approximately $615,000.

A number of other large investors have also recently bought and sold shares of GEV. Synergy Asset Management LLC lifted its position in shares of GE Vernova by 300.0% during the 3rd quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock worth $1,078,000 after buying an additional 1,413 shares in the last quarter. Kercheville Advisors LLC grew its holdings in shares of GE Vernova by 238.3% in the third quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock valued at $3,016,000 after acquiring an additional 3,455 shares in the last quarter. Dupree Financial Group LLC purchased a new stake in shares of GE Vernova during the second quarter valued at approximately $253,000. Nordea Investment Management AB lifted its holdings in GE Vernova by 136.1% during the third quarter. Nordea Investment Management AB now owns 561,213 shares of the company’s stock worth $341,038,000 after acquiring an additional 323,481 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in GE Vernova by 18.8% during the second quarter. International Assets Investment Management LLC now owns 3,903 shares of the company’s stock worth $2,065,000 after acquiring an additional 619 shares during the period.

Analyst Ratings Changes

GEV has been the subject of a number of recent analyst reports. Oppenheimer upgraded GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 price objective for the company in a research note on Wednesday, December 10th. Citigroup boosted their price target on shares of GE Vernova from $658.00 to $708.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. TD Cowen reduced their price target on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Redburn Partners set a $475.00 price objective on shares of GE Vernova in a research report on Wednesday, October 15th. Finally, Rothschild Redb cut shares of GE Vernova from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $703.04.

GE Vernova Stock Performance

Shares of GEV opened at $681.78 on Friday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $731.00. The business has a 50-day moving average of $629.47 and a 200 day moving average of $611.97. The firm has a market cap of $184.98 billion, a P/E ratio of 111.04, a price-to-earnings-growth ratio of 2.85 and a beta of 1.67.

GE Vernova (NYSE:GEV) last issued its 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). The business had revenue of $9.97 billion for 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 in the prior year, the business earned ($0.35) EPS. As a group, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be paid a $0.50 dividend. The ex-dividend date is Monday, January 5th. 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. GE Vernova’s dividend payout ratio (DPR) is presently 32.57%.

GE Vernova Company 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.