Rakuten Investment Management Inc. Invests $18.60 Million in GE Vernova Inc. $GEV

Rakuten Investment Management Inc. purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 30,250 shares of the company’s stock, valued at approximately $18,601,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sachetta LLC grew its position in shares of GE Vernova by 10.7% in the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after buying an additional 16 shares during the last quarter. Good Life Advisors LLC boosted its stake in GE Vernova by 1.0% in the second quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock valued at $875,000 after acquiring an additional 16 shares in the last quarter. Bell Investment Advisors Inc boosted its stake in GE Vernova by 6.7% in the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after acquiring an additional 16 shares in the last quarter. Northwest Wealth Management LLC grew its holdings in shares of GE Vernova by 3.6% during the third quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock worth $286,000 after purchasing an additional 16 shares during the last quarter. Finally, AMG National Trust Bank increased its position in shares of GE Vernova by 1.5% during the second quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock worth $606,000 after purchasing an additional 17 shares in the last quarter.

Analysts Set New Price Targets

GEV has been the subject of a number of research analyst reports. Robert W. Baird reissued a “neutral” rating and issued a $649.00 target price (down from $816.00) on shares of GE Vernova in a research report on Friday, January 9th. Baird R W cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. Mizuho decreased their price objective on GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Rothschild Redb cut shares of GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $703.04.

GE Vernova Price Performance

GE Vernova stock opened at $684.14 on Wednesday. The business has a 50 day simple moving average of $633.67 and a 200-day simple moving average of $615.06. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $731.00. The stock has a market capitalization of $185.62 billion, a PE ratio of 111.42, a price-to-earnings-growth ratio of 2.85 and a beta of 1.67.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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 firm 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 quarter last year, the business earned ($0.35) earnings per share. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be issued a $0.50 dividend. The ex-dividend date of this dividend is 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 0.3%. GE Vernova’s payout ratio is presently 32.57%.

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.