Quantbot Technologies LP Has $13.56 Million Stock Position in GE Vernova Inc. $GEV

Quantbot Technologies LP trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 49.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,051 shares of the company’s stock after selling 21,574 shares during the quarter. Quantbot Technologies LP’s holdings in GE Vernova were worth $13,559,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new stake in GE Vernova during the second quarter worth approximately $1,809,220,000. Arrowstreet Capital Limited Partnership raised its position in shares of GE Vernova by 273.7% in the second 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 raised its position 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 during the period. Invesco Ltd. lifted its stake in shares of GE Vernova by 26.3% in 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 last quarter. Finally, Raymond James Financial Inc. boosted its holdings in shares of GE Vernova by 66.0% during the 2nd 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 during the period.

GE Vernova Trading Down 0.4%

Shares of NYSE GEV opened at $872.64 on Friday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $894.93. The firm’s 50-day moving average is $726.02 and its 200-day moving average is $648.74. The firm has a market capitalization of $235.20 billion, a PE ratio of 49.02, a price-to-earnings-growth ratio of 3.49 and a beta of 1.67.

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

GE Vernova Announces Dividend

The business 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 dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s dividend payout ratio is presently 11.24%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GEV shares. Royal Bank Of Canada raised their price target on GE Vernova from $761.00 to $800.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Citigroup increased their target price on GE Vernova from $708.00 to $779.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Robert W. Baird set a $923.00 price target on GE Vernova and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Susquehanna upped their price target on GE Vernova from $800.00 to $820.00 and gave the stock a “positive” rating in a report on Thursday, January 29th. Finally, Oppenheimer restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $788.24.

About GE Vernova

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.