M&G PLC Acquires 805 Shares of GE Vernova Inc. $GEV

M&G PLC grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 3.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,022 shares of the company’s stock after acquiring an additional 805 shares during the quarter. M&G PLC’s holdings in GE Vernova were worth $15,389,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Good Life Advisors LLC raised its position in GE Vernova by 1.0% in the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after purchasing an additional 16 shares during the period. Bell Investment Advisors Inc grew its stake in shares of GE Vernova by 6.7% during the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after buying an additional 16 shares during the last quarter. Northwest Wealth Management LLC increased its holdings in shares of GE Vernova by 3.6% in the third quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock worth $286,000 after buying an additional 16 shares during the period. AMG National Trust Bank lifted its stake in shares of GE Vernova by 1.5% in the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after acquiring an additional 17 shares during the last quarter. Finally, Traphagen Investment Advisors LLC boosted its holdings in GE Vernova by 1.2% during the 3rd quarter. Traphagen Investment Advisors LLC now owns 1,418 shares of the company’s stock valued at $872,000 after acquiring an additional 17 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GEV shares. Wolfe Research raised GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Oppenheimer reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 29th. Robert W. Baird set a $923.00 price target on shares of GE Vernova and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Mizuho set a $714.00 price objective on shares of GE Vernova in a research report on Tuesday, February 3rd. Finally, The Goldman Sachs Group upped their price objective on shares of GE Vernova from $840.00 to $925.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $788.24.

GE Vernova Trading Down 1.8%

NYSE:GEV opened at $801.76 on Tuesday. The company has a 50-day moving average price of $693.45 and a 200-day moving average price of $636.37. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $846.00. The stock has a market cap of $216.10 billion, a price-to-earnings ratio of 45.04, a P/E/G ratio of 3.19 and a beta of 1.67.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $10.21 billion. During the same quarter in the previous year, the company earned $1.73 earnings per share. GE Vernova’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 5th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, January 5th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio is currently 11.24%.

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.