DSM Capital Partners LLC Buys 1,186 Shares of GE Vernova Inc. $GEV

DSM Capital Partners LLC boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 198,177 shares of the company’s stock after acquiring an additional 1,186 shares during the period. GE Vernova accounts for about 1.7% of DSM Capital Partners LLC’s portfolio, making the stock its 19th biggest position. DSM Capital Partners LLC owned about 0.07% of GE Vernova worth $121,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its position in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after purchasing an additional 753 shares during the period. Integrated Wealth Concepts LLC grew its stake in GE Vernova by 3.1% during the first quarter. Integrated Wealth Concepts LLC now owns 9,864 shares of the company’s stock worth $3,011,000 after buying an additional 299 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in GE Vernova by 12.5% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 1,190 shares of the company’s stock valued at $363,000 after buying an additional 132 shares during the period. Fred Alger Management LLC raised its position in shares of GE Vernova by 160.1% in the 1st quarter. Fred Alger Management LLC now owns 25,727 shares of the company’s stock valued at $7,854,000 after buying an additional 15,836 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC raised its position in shares of GE Vernova by 18.6% in the 1st quarter. Signature Estate & Investment Advisors LLC now owns 1,383 shares of the company’s stock valued at $422,000 after buying an additional 217 shares in the last quarter.

GE Vernova Stock Up 0.8%

NYSE GEV opened at $686.52 on Wednesday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $731.00. The company has a market cap of $186.27 billion, a price-to-earnings ratio of 111.81, a price-to-earnings-growth ratio of 2.85 and a beta of 1.67. The business’s fifty day moving average is $617.04 and its 200 day moving average is $605.03.

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

GE Vernova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be issued a $0.50 dividend. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is 32.57%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GEV shares. Rothschild Redb lowered shares of GE Vernova from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. TD Cowen reduced their target price on GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Bank of America lifted their price target on GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Wells Fargo & Company upped their price objective on GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Finally, UBS Group raised their price objective on GE Vernova from $760.00 to $835.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $691.11.

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.