GE Vernova Inc. $GEV Shares Acquired by BTG Pactual Asset Management US LLC

BTG Pactual Asset Management US LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 268.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 11,063 shares of the company’s stock after acquiring an additional 8,062 shares during the quarter. BTG Pactual Asset Management US LLC’s holdings in GE Vernova were worth $5,854,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. WFA Asset Management Corp purchased a new stake in shares of GE Vernova during the 2nd quarter worth approximately $29,000. Howard Hughes Medical Institute acquired a new stake in GE Vernova during the 2nd quarter worth $31,000. Highline Wealth Partners LLC lifted its position in GE Vernova by 34.6% in the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after acquiring an additional 18 shares during the last quarter. Raleigh Capital Management Inc. purchased a new stake in GE Vernova in the second quarter valued at $37,000. Finally, Advantage Trust Co acquired a new position in GE Vernova in the second quarter valued at $40,000.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Redburn Partners set a $475.00 target price on GE Vernova in a report on Wednesday, October 15th. Melius Research set a $740.00 price target on GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. HSBC increased their price objective on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a report on Friday, September 5th. TD Cowen cut their target price on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Finally, UBS Group upped their price target on shares of GE Vernova from $760.00 to $835.00 and gave the company a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $654.54.

GE Vernova Price Performance

NYSE:GEV opened at $672.32 on Friday. The firm has a market cap of $182.41 billion, a price-to-earnings ratio of 109.50, a price-to-earnings-growth ratio of 5.28 and a beta of 1.71. The firm’s fifty day moving average price is $597.06 and its 200 day moving average price is $582.05. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $731.00.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.35) EPS. As a group, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

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

About GE Vernova

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.