Legal & General Group Plc Increases Holdings in GE Vernova Inc. $GEV

Legal & General Group Plc lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,652,711 shares of the company’s stock after purchasing an additional 20,748 shares during the quarter. Legal & General Group Plc’s holdings in GE Vernova were worth $1,016,252,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in GE Vernova by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock valued at $15,259,028,000 after buying an additional 150,892 shares in the last quarter. State Street Corp lifted its holdings in shares of GE Vernova by 1.9% in the second quarter. State Street Corp now owns 11,097,778 shares of the company’s stock worth $5,872,389,000 after buying an additional 206,650 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of GE Vernova by 2.2% in the second 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 during the period. Norges Bank bought a new position in shares of GE Vernova in the second quarter valued at approximately $1,809,220,000. Finally, Invesco Ltd. grew its stake in GE Vernova by 26.3% during the second quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock valued at $1,173,262,000 after acquiring an additional 462,038 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Citigroup upped their target price on shares of GE Vernova from $708.00 to $779.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Robert W. Baird set a $923.00 price target on shares of GE Vernova and gave the company an “outperform” rating in a report on Wednesday, February 4th. BMO Capital Markets restated an “outperform” rating and set a $785.00 price target on shares of GE Vernova in a research report on Thursday, January 29th. Glj Research upped their price target on shares of GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Finally, Mizuho set a $714.00 price objective on GE Vernova in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $831.29.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $829.66 on Tuesday. The company’s fifty day moving average price is $746.41 and its 200-day moving average price is $658.06. The firm has a market capitalization of $223.62 billion, a price-to-earnings ratio of 46.61, a PEG ratio of 3.14 and a beta of 1.44. GE Vernova Inc. has a one year low of $252.25 and a one year high of $894.93.

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

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s dividend payout ratio is presently 11.24%.

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.