Capital Planning Advisors LLC Raises Stock Holdings in GE Vernova Inc. $GEV

Capital Planning Advisors LLC boosted its stake in GE Vernova Inc. (NYSE:GEV) by 11.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,925 shares of the company’s stock after purchasing an additional 628 shares during the quarter. Capital Planning Advisors LLC’s holdings in GE Vernova were worth $3,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of GE Vernova by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock worth $13,051,258,000 after acquiring an additional 271,958 shares during the last quarter. State Street Corp increased its stake in GE Vernova by 1.9% in the second quarter. State Street Corp now owns 11,097,778 shares of the company’s stock valued at $5,872,389,000 after acquiring an additional 206,650 shares during the last quarter. Geode Capital Management LLC raised its position in GE Vernova by 2.2% during the second quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock valued at $3,221,404,000 after purchasing an additional 129,315 shares in the last quarter. Norges Bank bought a new stake in GE Vernova during the second quarter worth about $1,809,220,000. Finally, Invesco Ltd. boosted its holdings in shares of GE Vernova by 26.3% in the 2nd quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock worth $1,173,262,000 after purchasing an additional 462,038 shares in the last quarter.

GE Vernova Stock Down 1.8%

Shares of GEV opened at $801.76 on Monday. The stock has a market capitalization of $216.10 billion, a P/E ratio of 45.04, a PEG ratio of 3.19 and a beta of 1.67. The firm has a fifty day simple moving average of $689.84 and a two-hundred day simple moving average of $635.38. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $846.00.

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

GE Vernova Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 5th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio (DPR) is presently 11.24%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GEV shares. Mizuho set a $714.00 price objective on GE Vernova in a report on Tuesday, February 3rd. Royal Bank Of Canada increased their price target on shares of GE Vernova from $761.00 to $800.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Morgan Stanley restated an “overweight” rating and issued a $817.00 price objective on shares of GE Vernova in a report on Monday, January 26th. Barclays reaffirmed an “overweight” rating and set a $849.00 target price on shares of GE Vernova in a report on Monday, February 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $788.24.

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.