Northeast Investment Management Has $5.28 Million Stake in GE Vernova Inc. $GEV

Northeast Investment Management boosted its stake in GE Vernova Inc. (NYSE:GEV) by 9.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,587 shares of the company’s stock after buying an additional 767 shares during the quarter. Northeast Investment Management’s holdings in GE Vernova were worth $5,280,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bay Harbor Wealth Management LLC lifted its position in shares of GE Vernova by 537.5% during the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares in the last quarter. Elevation Wealth Partners LLC increased its stake in GE Vernova by 47.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after buying an additional 17 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its position in shares of GE Vernova by 112.0% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock worth $33,000 after buying an additional 28 shares in the last quarter. WFA Asset Management Corp purchased a new position in shares of GE Vernova in the 2nd quarter worth approximately $29,000. Finally, Howard Hughes Medical Institute bought a new position in shares of GE Vernova in the second quarter valued at approximately $31,000.

Analysts Set New Price Targets

Several research analysts have weighed in on GEV shares. UBS Group reissued a “buy” rating on shares of GE Vernova in a research report on Thursday, January 29th. Royal Bank Of Canada increased their price target on shares of GE Vernova from $761.00 to $800.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Oppenheimer reiterated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 29th. Evercore raised their price target on shares of GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. Finally, Mizuho set a $714.00 price objective on GE Vernova in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Price Performance

NYSE GEV opened at $818.31 on Wednesday. The company’s 50 day simple moving average is $697.31 and its two-hundred day simple moving average is $637.51. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $846.00. The stock has a market capitalization of $220.56 billion, a PE ratio of 45.97, a P/E/G ratio of 3.19 and a beta of 1.67.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating 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 firm had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. During the same quarter last year, the firm posted $1.73 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently declared 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 of this dividend is Tuesday, March 17th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is 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.