ING Groep NV Purchases 31,479 Shares of GE Vernova Inc. $GEV

ING Groep NV boosted its position in GE Vernova Inc. (NYSE:GEV) by 30.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 134,193 shares of the company’s stock after purchasing an additional 31,479 shares during the period. ING Groep NV’s holdings in GE Vernova were worth $82,515,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in GE Vernova by 315.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 54,796 shares of the company’s stock valued at $27,727,000 after purchasing an additional 41,600 shares during the period. Cypress Capital Group purchased a new stake in shares of GE Vernova during the 2nd quarter valued at $242,000. Welch Group LLC purchased a new position in shares of GE Vernova in the 2nd quarter worth about $206,000. Finally, MGO One Seven LLC grew its position in GE Vernova by 72.4% during the second quarter. MGO One Seven LLC now owns 6,471 shares of the company’s stock valued at $3,424,000 after buying an additional 2,717 shares during the period.

Analysts Set New Price Targets

A number of research analysts have weighed in on GEV shares. Weiss Ratings upgraded shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. BMO Capital Markets reiterated an “outperform” rating and issued a $785.00 price objective on shares of GE Vernova in a research note on Thursday, January 29th. TD Cowen raised their target price on GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. The Goldman Sachs Group upped their price target on GE Vernova from $840.00 to $925.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Finally, Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price objective for the company in a report on Friday, January 30th. 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $788.24.

GE Vernova Stock Performance

Shares of GEV opened at $790.62 on Wednesday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $814.86. The stock’s 50-day simple moving average is $678.26 and its 200 day simple moving average is $631.83. The stock has a market capitalization of $213.10 billion, a price-to-earnings ratio of 44.42, a price-to-earnings-growth ratio of 3.19 and a beta of 1.67.

GE Vernova (NYSE:GEV) last announced 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 period in the prior year, the business posted $1.73 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. On average, research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 5th were given a dividend of $0.50 per share. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is presently 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.