Muhlenkamp & Co. Inc. Buys New Position in GE Vernova Inc. $GEV

Muhlenkamp & Co. Inc. bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,426 shares of the company’s stock, valued at approximately $877,000. GE Vernova accounts for approximately 0.2% of Muhlenkamp & Co. Inc.’s portfolio, making the stock its 27th largest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of GE Vernova in the 2nd quarter worth approximately $1,809,220,000. Arrowstreet Capital Limited Partnership lifted its stake in GE Vernova by 273.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock valued at $798,126,000 after purchasing an additional 1,104,747 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in GE Vernova by 771.3% during the second quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock worth $403,861,000 after buying an additional 675,629 shares in the last quarter. Invesco Ltd. grew its position in GE Vernova by 26.3% in the second quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock worth $1,173,262,000 after buying an additional 462,038 shares during the last quarter. Finally, Raymond James Financial Inc. grew its position in GE Vernova by 66.0% in the second quarter. Raymond James Financial Inc. now owns 944,567 shares of the company’s stock worth $499,817,000 after buying an additional 375,677 shares during the last quarter.

GE Vernova Trading Down 0.0%

NYSE:GEV opened at $818.88 on Thursday. The business’s fifty day moving average price is $699.24 and its 200 day moving average price is $638.78. The firm has a market capitalization of $220.71 billion, a price-to-earnings ratio of 46.00, a PEG ratio of 3.26 and a beta of 1.67. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $846.00.

GE Vernova (NYSE:GEV) last released its 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. The company had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.73 EPS. Equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share 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 $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s dividend payout ratio is currently 11.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GEV shares. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price objective for the company in a research note on Friday, January 30th. Wall Street Zen raised GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Robert W. Baird set a $923.00 price target on GE Vernova and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Citigroup boosted their price objective on GE Vernova from $708.00 to $779.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Finally, William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Company 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.