Generali Asset Management SPA SGR Has $9.34 Million Stock Position in GE Vernova Inc. $GEV

Generali Asset Management SPA SGR increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 45.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,196 shares of the company’s stock after acquiring an additional 4,715 shares during the quarter. Generali Asset Management SPA SGR’s holdings in GE Vernova were worth $9,344,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in GE Vernova during the 2nd quarter worth approximately $1,809,220,000. Arrowstreet Capital Limited Partnership lifted its holdings 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 in the last quarter. Amundi boosted its position 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 buying an additional 868,927 shares during the period. Assenagon Asset Management S.A. grew its holdings 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 valued at $445,773,000 after buying an additional 834,129 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in shares of GE Vernova by 771.3% during the second quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock valued at $403,861,000 after buying an additional 675,629 shares in the last quarter.

GE Vernova Stock Down 1.0%

NYSE GEV opened at $653.24 on Friday. The stock has a market capitalization of $177.24 billion, a PE ratio of 106.39, a price-to-earnings-growth ratio of 4.98 and a beta of 1.67. The company has a 50 day moving average price of $610.93 and a two-hundred day moving average price of $599.39. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $731.00.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). The business 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%.The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.35) EPS. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a dividend of $0.50 per share. 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 yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is currently 16.29%.

Analysts Set New Price Targets

Several brokerages recently issued reports on GEV. Mizuho reduced their price objective on GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Melius raised shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target for the company in a research report on Monday, September 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday, October 8th. UBS Group upped their price objective on shares of GE Vernova from $760.00 to $835.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Finally, Seaport Res Ptn downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Four research 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, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $691.11.

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.