Patten Group Inc. Buys 874 Shares of GE Vernova Inc. $GEV

Patten Group Inc. grew its stake in GE Vernova Inc. (NYSE:GEV) by 39.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,116 shares of the company’s stock after buying an additional 874 shares during the period. Patten Group Inc.’s holdings in GE Vernova were worth $1,916,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GEV. Jackson Grant Investment Advisers Inc. increased its position in GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the period. Howard Hughes Medical Institute acquired a new position in shares of GE Vernova in the 2nd quarter worth approximately $31,000. Bay Harbor Wealth Management LLC boosted its stake in shares of GE Vernova by 537.5% in the 3rd 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 during the last quarter. Monetary Management Group Inc. acquired a new stake in shares of GE Vernova during the second quarter worth $32,000. Finally, Elevation Wealth Partners LLC increased its position in shares of GE Vernova by 47.2% during the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after buying an additional 17 shares during the period.

Analyst Upgrades and Downgrades

GEV has been the topic of several recent analyst reports. Robert W. Baird set a $923.00 target price on shares of GE Vernova and gave the company an “outperform” rating in a report on Wednesday, February 4th. Glj Research lifted their price objective on GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Wall Street Zen upgraded GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Finally, China Renaissance upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, January 29th. 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $788.24.

GE Vernova Price Performance

Shares of GEV opened at $831.01 on Tuesday. GE Vernova Inc. has a one year low of $252.25 and a one year high of $846.00. The company has a market cap of $223.98 billion, a PE ratio of 46.69, a P/E/G ratio of 3.30 and a beta of 1.67. The stock has a 50-day moving average of $707.95 and a 200-day moving average of $642.37.

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

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors 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 (DPR) is currently 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.