Munro Partners Makes New $96.78 Million Investment in GE Vernova Inc. $GEV

Munro Partners purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, Holdings Channel reports. The firm purchased 182,888 shares of the company’s stock, valued at approximately $96,775,000. GE Vernova comprises approximately 3.0% of Munro Partners’ holdings, making the stock its 11th largest holding.

A number of other institutional investors have also made changes to their positions in the business. Pines Wealth Management LLC acquired a new position in shares of GE Vernova during the 2nd quarter worth about $408,000. Dupree Financial Group LLC acquired a new stake in shares of GE Vernova in the second quarter valued at about $253,000. International Assets Investment Management LLC raised its holdings in GE Vernova by 18.8% during the second quarter. International Assets Investment Management LLC now owns 3,903 shares of the company’s stock worth $2,065,000 after acquiring an additional 619 shares in the last quarter. Alpha Financial Partners LLC acquired a new position in GE Vernova during the second quarter valued at approximately $230,000. Finally, Aviva PLC grew its stake in GE Vernova by 6.7% in the second quarter. Aviva PLC now owns 205,086 shares of the company’s stock valued at $108,521,000 after purchasing an additional 12,790 shares in the last quarter.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday, October 8th. Susquehanna upped their price target on shares of GE Vernova from $750.00 to $775.00 and gave the stock a “positive” rating in a research report on Wednesday. Seaport Res Ptn downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Thursday. TD Cowen lowered their price objective on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Finally, Redburn Partners set a $475.00 target price on shares of GE Vernova in a research note on Wednesday, October 15th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $654.54.

GE Vernova Stock Down 4.5%

Shares of GEV stock opened at $672.32 on Friday. The company has a market capitalization of $182.41 billion, a PE ratio of 109.50, a price-to-earnings-growth ratio of 5.04 and a beta of 1.71. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $731.00. The firm has a 50 day moving average price of $597.06 and a two-hundred day moving average price of $582.82.

GE Vernova (NYSE:GEV) last posted its earnings results 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). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period in the prior year, the business posted ($0.35) EPS. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be issued a dividend of $0.50 per share. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. GE Vernova’s payout ratio is currently 16.29%.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.