Regent Peak Wealth Advisors LLC Purchases New Holdings in GE Vernova Inc. $GEV

Regent Peak Wealth Advisors LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 970 shares of the company’s stock, valued at approximately $596,000.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in GE Vernova during the second quarter worth about $1,809,220,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of GE Vernova by 273.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock valued at $798,126,000 after buying an additional 1,104,747 shares during the period. AQR Capital Management LLC boosted 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 in the last quarter. Amundi boosted its stake in shares of GE Vernova by 109.0% in the first quarter. Amundi now owns 1,665,980 shares of the company’s stock valued at $496,013,000 after buying an additional 868,927 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in GE Vernova by 10,044.9% in the second quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after acquiring an additional 834,129 shares in the last quarter.

GE Vernova Stock Performance

GE Vernova stock opened at $666.81 on Friday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $731.00. The stock has a fifty day moving average of $604.05 and a two-hundred day moving average of $593.14. The company has a market capitalization of $180.92 billion, a price-to-earnings ratio of 108.60, a PEG ratio of 5.09 and a beta of 1.71.

GE Vernova (NYSE:GEV) last posted 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 company 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 company’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 posted ($0.35) EPS. On average, 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 will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

Analysts Set New Price Targets

Several equities research analysts have commented on GEV shares. Susquehanna boosted their target price on shares of GE Vernova from $750.00 to $775.00 and gave the stock a “positive” rating in a research report on Wednesday, December 10th. Robert W. Baird set a $816.00 price objective on shares of GE Vernova in a report on Thursday, December 18th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. Wolfe Research raised GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Finally, Oppenheimer upgraded GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 target price on the stock in a research report on Wednesday, December 10th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $691.11.

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.