Corient Private Wealth LLC Has $29.68 Million Stake in GE Vernova Inc. $GEV

Corient Private Wealth LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 5.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,086 shares of the company’s stock after acquiring an additional 2,979 shares during the period. Corient Private Wealth LLC’s holdings in GE Vernova were worth $29,678,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of GE Vernova in the second quarter valued at $1,809,220,000. Arrowstreet Capital Limited Partnership grew its holdings in GE Vernova by 273.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock worth $798,126,000 after acquiring an additional 1,104,747 shares during the last quarter. AQR Capital Management LLC increased its position in GE Vernova by 252.9% in the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after acquiring an additional 892,549 shares in the last quarter. Amundi raised its stake in shares of GE Vernova by 109.0% in the first quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after acquiring an additional 868,927 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of GE Vernova by 10,044.9% during the second quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after purchasing an additional 834,129 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank Of Canada raised shares of GE Vernova from a “sector perform” rating to an “outperform” rating and set a $761.00 price target for the company in a report on Wednesday, December 10th. Evercore ISI started coverage on GE Vernova in a research note on Monday. They issued an “outperform” rating and a $860.00 target price for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $822.00 price target on shares of GE Vernova in a research note on Tuesday. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target on the stock in a report on Monday, September 15th. Finally, Redburn Partners set a $475.00 price objective on GE Vernova in a report on Wednesday, October 15th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $680.52.

GE Vernova Trading Up 0.7%

NYSE:GEV opened at $686.35 on Wednesday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $731.00. The firm has a market capitalization of $186.22 billion, a price-to-earnings ratio of 111.78, a PEG ratio of 5.20 and a beta of 1.71. The business’s 50-day moving average price is $600.25 and its two-hundred day moving average price is $586.50.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). The company had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.3%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.