GE Vernova Inc. $GEV Shares Bought by US Bancorp DE

US Bancorp DE raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 100,542 shares of the company’s stock after buying an additional 2,163 shares during the period. US Bancorp DE’s holdings in GE Vernova were worth $61,824,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of GEV. Brighton Jones LLC lifted its holdings in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares during the period. Schnieders Capital Management LLC. increased its holdings in shares of GE Vernova by 1.7% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after purchasing an additional 26 shares in the last quarter. Advisory Alpha LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at $389,000. Jennison Associates LLC boosted its holdings in GE Vernova by 403.1% during the second quarter. Jennison Associates LLC now owns 192,499 shares of the company’s stock worth $101,861,000 after buying an additional 154,239 shares in the last quarter. Finally, Motco grew its position in GE Vernova by 152.6% during the second quarter. Motco now owns 144 shares of the company’s stock valued at $76,000 after buying an additional 87 shares during the period.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of analyst reports. Mizuho set a $714.00 price objective on shares of GE Vernova in a research report on Tuesday, February 3rd. Royal Bank Of Canada upped their price target on GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Bank of America raised their price objective on GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Wall Street Zen raised GE Vernova from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Finally, China Renaissance raised shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $788.24.

GE Vernova Stock Down 0.0%

GE Vernova stock opened at $875.63 on Friday. The company has a fifty day simple moving average of $721.73 and a 200-day simple moving average of $647.20. The firm has a market capitalization of $236.01 billion, a price-to-earnings ratio of 49.19, a PEG ratio of 3.49 and a beta of 1.67. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $894.93.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $10.21 billion. During the same quarter in the prior year, the company earned $1.73 EPS. GE Vernova’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

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.