10,171 Shares in GE Vernova Inc. $GEV Purchased by Gunderson Capital Management Inc.

Gunderson Capital Management Inc. bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,171 shares of the company’s stock, valued at approximately $6,254,000. GE Vernova accounts for about 2.3% of Gunderson Capital Management Inc.’s investment portfolio, making the stock its 19th largest holding.

Several other hedge funds have also made changes to their positions in GEV. Norges Bank purchased a new stake in shares of GE Vernova during the 2nd quarter valued at approximately $1,809,220,000. Arrowstreet Capital Limited Partnership grew its position in GE Vernova by 273.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock worth $798,126,000 after acquiring an additional 1,104,747 shares during the period. Assenagon Asset Management S.A. increased 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 acquiring an additional 834,129 shares during the last quarter. Qube Research & Technologies Ltd raised its position in GE Vernova by 771.3% in the second quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock valued at $403,861,000 after purchasing an additional 675,629 shares during the period. Finally, Invesco Ltd. raised its position in GE Vernova by 26.3% in the second quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock valued at $1,173,262,000 after purchasing an additional 462,038 shares during the period.

GE Vernova Stock Performance

Shares of GEV stock opened at $686.52 on Wednesday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $731.00. The company has a 50 day moving average price of $617.04 and a 200 day moving average price of $605.03. The stock has a market capitalization of $186.27 billion, a P/E ratio of 111.81, a price-to-earnings-growth ratio of 2.85 and a beta of 1.67.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). The business had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.35) EPS. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The business also recently announced 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. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. This is a boost 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 32.57%.

Analyst Ratings Changes

A number of research firms have recently weighed in on GEV. Evercore ISI assumed coverage on GE Vernova in a report on Monday, December 15th. They set an “outperform” rating and a $860.00 price target for the company. Glj Research upped their target price on shares of GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Melius raised shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price for the company in a research note on Monday, September 15th. Citigroup dropped their price target on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. Finally, Robert W. Baird set a $816.00 price objective on shares of GE Vernova in a report on Thursday, December 18th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus price target 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.