Vestmark Advisory Solutions Inc. Purchases 1,303 Shares of GE Vernova Inc. $GEV

Vestmark Advisory Solutions Inc. boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 325.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,703 shares of the company’s stock after purchasing an additional 1,303 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in GE Vernova were worth $1,047,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of GE Vernova during the second quarter worth $1,809,220,000. Arrowstreet Capital Limited Partnership raised its stake in shares of GE Vernova by 273.7% in the 2nd 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 period. Qube Research & Technologies Ltd lifted its holdings in shares of GE Vernova by 771.3% in the second quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock valued at $403,861,000 after purchasing an additional 675,629 shares in the last quarter. Invesco Ltd. boosted its position in shares of GE Vernova by 26.3% during 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 period. Finally, Raymond James Financial Inc. grew its holdings in shares of GE Vernova by 66.0% during 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 in the last quarter.

Analysts Set New Price Targets

GEV has been the subject of a number of recent research reports. TD Cowen upped their price target on GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Wolfe Research raised shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research report on Wednesday, December 10th. Glj Research raised their price objective on GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, Royal Bank Of Canada upped their target price on GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. One 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Stock Down 0.6%

Shares of NYSE GEV opened at $874.61 on Thursday. The business’s 50 day moving average price is $716.98 and its two-hundred day moving average price is $645.60. The company has a market cap of $235.73 billion, a PE ratio of 49.14, a price-to-earnings-growth ratio of 3.50 and a beta of 1.67. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $894.93.

GE Vernova (NYSE:GEV) last posted its 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. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. During the same period in the previous year, the firm earned $1.73 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

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.