BlueCrest Capital Management Ltd Buys Shares of 8,302 GE Vernova Inc. $GEV

BlueCrest Capital Management Ltd purchased a new position in shares of GE Vernova Inc. (NYSE:GEVFree Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,302 shares of the company’s stock, valued at approximately $5,105,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in GE Vernova by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock worth $15,259,028,000 after buying an additional 150,892 shares during the last quarter. State Street Corp raised its stake in GE Vernova by 1.9% in the second quarter. State Street Corp now owns 11,097,778 shares of the company’s stock valued at $5,872,389,000 after buying an additional 206,650 shares during the last quarter. Norges Bank purchased a new stake in GE Vernova in the second quarter valued at about $1,809,220,000. Invesco Ltd. boosted its holdings in GE Vernova by 7.1% in the third quarter. Invesco Ltd. now owns 2,375,738 shares of the company’s stock worth $1,460,841,000 after acquiring an additional 158,481 shares in the last quarter. Finally, Capital World Investors grew its stake in shares of GE Vernova by 1,907.5% during the third quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after acquiring an additional 2,048,792 shares during the last quarter.

GE Vernova Trading Down 3.3%

Shares of NYSE GEV opened at $804.45 on Friday. The company has a 50 day simple moving average of $759.92 and a two-hundred day simple moving average of $663.84. The stock has a market cap of $216.82 billion, a price-to-earnings ratio of 45.19, a PEG ratio of 3.20 and a beta of 1.45. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $894.93.

GE Vernova (NYSE:GEVGet Free Report) last issued its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $10.40. The firm had revenue of $10.96 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $1.73 earnings per share. Analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently issued reports on GEV. UBS Group restated a “buy” rating on shares of GE Vernova in a report on Thursday, January 29th. Erste Group Bank initiated coverage on shares of GE Vernova in a research report on Thursday, March 5th. They set a “buy” rating on the stock. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Royal Bank Of Canada raised their price target on shares of GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Finally, Weiss Ratings raised shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $831.29.

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GE Vernova Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for GE Vernova (NYSE:GEV)

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