Shorepoint Capital Partners LLC Takes Position in GE Vernova Inc. $GEV

Shorepoint Capital Partners LLC acquired a new position in GE Vernova Inc. (NYSE:GEV) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,411 shares of the company’s stock, valued at approximately $3,327,000.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of GE Vernova during the 2nd quarter worth about $1,809,220,000. Arrowstreet Capital Limited Partnership raised its stake in GE Vernova by 273.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock valued at $798,126,000 after purchasing an additional 1,104,747 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of GE Vernova by 252.9% in the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after buying an additional 892,549 shares during the period. Amundi lifted its position in shares of GE Vernova by 109.0% in the 1st quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after acquiring an additional 868,927 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in GE Vernova by 10,044.9% during the second quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after buying an additional 834,129 shares in the last quarter.

Analyst Ratings Changes

Several brokerages recently commented on GEV. HSBC boosted their price target on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research note on Friday, September 5th. Wolfe Research raised GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Redburn Partners set a $475.00 price target on GE Vernova in a report on Wednesday, October 15th. Rothschild & Co Redburn restated a “sell” rating and set a $475.00 target price on shares of GE Vernova in a research report on Wednesday, October 15th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of GE Vernova in a research report on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $662.15.

GE Vernova Stock Up 1.6%

GEV stock opened at $682.18 on Tuesday. The company has a market cap of $185.09 billion, a price-to-earnings ratio of 111.10, a P/E/G ratio of 5.12 and a beta of 1.71. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $731.00. The business has a 50 day moving average price of $598.65 and a two-hundred day moving average price of $584.99.

GE Vernova (NYSE:GEV) last posted 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 analyst estimates of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm’s revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.35) earnings per share. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be issued a $0.50 dividend. The ex-dividend date is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is currently 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.