Benin Management CORP Acquires 778 Shares of GE Vernova Inc. $GEV

Benin Management CORP grew its holdings in GE Vernova Inc. (NYSE:GEV) by 31.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,252 shares of the company’s stock after purchasing an additional 778 shares during the quarter. Benin Management CORP’s holdings in GE Vernova were worth $2,000,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Pines Wealth Management LLC acquired a new position in shares of GE Vernova during the 2nd quarter worth approximately $408,000. Dupree Financial Group LLC acquired a new position in GE Vernova during the second quarter worth $253,000. International Assets Investment Management LLC grew its holdings in GE Vernova by 18.8% in the 2nd quarter. International Assets Investment Management LLC now owns 3,903 shares of the company’s stock valued at $2,065,000 after buying an additional 619 shares in the last quarter. Quantbot Technologies LP increased its stake in shares of GE Vernova by 91.6% in the 2nd quarter. Quantbot Technologies LP now owns 43,625 shares of the company’s stock worth $23,084,000 after acquiring an additional 20,853 shares during the last quarter. Finally, Alpha Financial Partners LLC acquired a new stake in shares of GE Vernova in the 2nd quarter worth $230,000.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GEV shares. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. Evercore ISI assumed coverage on shares of GE Vernova in a report on Monday, December 15th. They set an “outperform” rating and a $860.00 price target for the company. The Goldman Sachs Group upped their price objective on GE Vernova from $735.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Oppenheimer upgraded GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 price objective for the company in a research report on Wednesday, December 10th. Finally, UBS Group lifted their target price on GE Vernova from $760.00 to $835.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $691.11.

GE Vernova Stock Down 0.0%

GEV opened at $663.30 on Tuesday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $731.00. The business has a fifty day simple moving average of $606.71 and a 200-day simple moving average of $597.35. The firm has a market cap of $179.97 billion, a P/E ratio of 108.03, a P/E/G ratio of 5.06 and a beta of 1.71.

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). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period in the previous year, the company posted ($0.35) EPS. GE Vernova’s revenue was up 11.8% on a year-over-year basis. Sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. GE Vernova’s payout ratio is 16.29%.

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.