Navellier & Associates Inc. Takes Position in GE Vernova Inc. $GEV

Navellier & Associates Inc. bought a new position in GE Vernova Inc. (NYSE:GEV) during the third quarter, according to its most recent filing with the SEC. The firm bought 7,503 shares of the company’s stock, valued at approximately $4,614,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of GE Vernova by 1.1% during the second quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock valued at $13,051,258,000 after buying an additional 271,958 shares during the last quarter. State Street Corp raised its holdings in shares of GE Vernova by 1.9% in the 2nd quarter. State Street Corp now owns 11,097,778 shares of the company’s stock worth $5,872,389,000 after acquiring an additional 206,650 shares during the last quarter. Geode Capital Management LLC lifted its position in GE Vernova by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock valued at $3,221,404,000 after acquiring an additional 129,315 shares in the last quarter. Norges Bank acquired a new position in GE Vernova during the 2nd quarter valued at about $1,809,220,000. Finally, Invesco Ltd. boosted its stake in GE Vernova by 26.3% during the 2nd 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 last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GEV shares. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price objective on the stock in a report on Friday, January 30th. Glj Research upped their target price on shares of GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. China Renaissance upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, January 29th. Finally, Citigroup lifted their target price on shares of GE Vernova from $708.00 to $779.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $788.24.

GE Vernova Stock Up 2.8%

Shares of GEV stock opened at $801.25 on Tuesday. The firm has a market cap of $215.96 billion, a P/E ratio of 45.01, a PEG ratio of 3.10 and a beta of 1.67. The company has a 50 day moving average of $674.49 and a 200-day moving average of $630.80. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $814.86.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating the consensus estimate of $2.99 by $10.40. The business had revenue of $10.96 billion during the quarter, compared to analyst estimates of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.GE Vernova’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.73 earnings per share. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 5th were paid a $0.50 dividend. The ex-dividend date was Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is 11.24%.

About GE Vernova

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.