618 Shares in GE Vernova Inc. $GEV Bought by Whalerock Point Partners LLC

Whalerock Point Partners LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) during the 3rd quarter, HoldingsChannel reports. The firm bought 618 shares of the company’s stock, valued at approximately $380,000.

Other institutional investors have also bought and sold shares of the company. Synergy Asset Management LLC increased its stake in GE Vernova by 300.0% in the third quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock valued at $1,078,000 after purchasing an additional 1,413 shares in the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of GE Vernova by 25.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock valued at $9,990,000 after buying an additional 3,278 shares during the period. Kercheville Advisors LLC increased its position in GE Vernova by 238.3% in the 3rd quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock valued at $3,016,000 after buying an additional 3,455 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in GE Vernova during the 3rd quarter worth approximately $18,601,000. Finally, Vanguard Group Inc. boosted its holdings in GE Vernova by 0.6% in the third quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock worth $15,259,028,000 after acquiring an additional 150,892 shares in the last quarter.

GE Vernova Stock Down 0.0%

GEV stock opened at $875.63 on Friday. The firm has a market cap of $236.01 billion, a PE ratio of 49.19, a P/E/G ratio of 3.49 and a beta of 1.67. The business has a 50 day moving average of $721.73 and a 200-day moving average of $647.20. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $894.93.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping the consensus estimate of $2.99 by $10.40. The business 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 was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.73 earnings per share. On average, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current 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 given a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is presently 11.24%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GEV. Wall Street Zen raised GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price target for the company in a research note on Friday, January 30th. Wolfe Research raised shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Barclays reiterated an “overweight” rating and set a $849.00 price objective on shares of GE Vernova in a report on Monday, February 2nd. Finally, JPMorgan Chase & Co. restated an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price 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.