S Bank Fund Management Ltd Buys 1,000 Shares of GE Vernova Inc. $GEV

S Bank Fund Management Ltd grew its stake in GE Vernova Inc. (NYSE:GEV) by 11.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. S Bank Fund Management Ltd’s holdings in GE Vernova were worth $6,149,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bay Harbor Wealth Management LLC raised its holdings in GE Vernova by 537.5% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the period. Elevation Wealth Partners LLC increased its stake in shares of GE Vernova by 47.2% during the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares during the period. WFA Asset Management Corp bought a new position in shares of GE Vernova during the second quarter worth approximately $29,000. Howard Hughes Medical Institute acquired a new stake in GE Vernova during the 2nd quarter worth approximately $31,000. Finally, Monetary Management Group Inc. bought a new stake in GE Vernova in the 2nd quarter valued at $32,000.

GE Vernova Price Performance

GEV stock opened at $640.17 on Tuesday. The stock has a market cap of $173.69 billion, a price-to-earnings ratio of 104.26, a P/E/G ratio of 2.61 and a beta of 1.67. The company has a 50 day simple moving average of $621.72 and a 200 day simple moving average of $608.79. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $731.00.

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 company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business’s quarterly 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) EPS. 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 company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a $0.50 dividend. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio is 32.57%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GEV. Redburn Partners set a $475.00 target price on GE Vernova in a report on Wednesday, October 15th. Bank of America lifted their price objective on shares of GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Wells Fargo & Company raised their target price on shares of GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Oppenheimer upgraded GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 price target for the company in a research note on Wednesday, December 10th. Finally, Wolfe Research upgraded GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $703.04.

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.