Capital International Ltd. CA Boosts Stock Holdings in GE Vernova Inc. $GEV

Capital International Ltd. CA increased its stake in GE Vernova Inc. (NYSE:GEV) by 94.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 20,437 shares of the company’s stock after buying an additional 9,910 shares during the period. Capital International Ltd. CA’s holdings in GE Vernova were worth $12,567,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. boosted its stake in GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the period. Bay Harbor Wealth Management LLC boosted its holdings in shares of GE Vernova by 537.5% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Elevation Wealth Partners LLC lifted its holdings in shares of GE Vernova by 47.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its position in GE Vernova by 112.0% during the third quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock valued at $33,000 after buying an additional 28 shares during the period. Finally, Howard Hughes Medical Institute purchased a new position in GE Vernova in the 2nd quarter worth approximately $31,000.

GE Vernova Stock Performance

GE Vernova stock opened at $829.66 on Tuesday. The business’s 50-day simple moving average is $746.41 and its two-hundred day simple moving average is $658.06. The company has a market cap of $223.62 billion, a PE ratio of 46.61, a PEG ratio of 3.14 and a beta of 1.44. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $894.93.

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

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s dividend payout ratio (DPR) is 11.24%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wolfe Research raised shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Citigroup boosted their price target on GE Vernova from $708.00 to $779.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. TD Cowen increased their price target on GE Vernova from $680.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, January 29th. China Renaissance upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, January 29th. Finally, Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 target price for the company in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $831.29.

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.