GE Vernova Inc. $GEV Shares Bought by Intact Investment Management Inc.

Intact Investment Management Inc. grew its holdings in GE Vernova Inc. (NYSE:GEV) by 1,315.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,010 shares of the company’s stock after acquiring an additional 1,868 shares during the quarter. Intact Investment Management Inc.’s holdings in GE Vernova were worth $1,236,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. WFA Asset Management Corp purchased a new stake in GE Vernova during the 2nd quarter worth approximately $29,000. Howard Hughes Medical Institute purchased a new stake in shares of GE Vernova during the second quarter valued at $31,000. Bay Harbor Wealth Management LLC grew its holdings in shares of GE Vernova by 537.5% during the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the last quarter. Monetary Management Group Inc. acquired a new position in shares of GE Vernova in the 2nd quarter valued at $32,000. Finally, Elevation Wealth Partners LLC raised its stake in GE Vernova by 47.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares during the last quarter.

GE Vernova Price Performance

Shares of NYSE GEV opened at $665.75 on Tuesday. The stock has a market capitalization of $180.63 billion, a price-to-earnings ratio of 108.43, a PEG ratio of 2.79 and a beta of 1.67. The firm’s 50 day simple moving average is $640.96 and its 200-day simple moving average is $618.70. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $731.00.

GE Vernova Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $761.00 price target on shares of GE Vernova in a research note on Monday, December 22nd. UBS Group upped 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. Redburn Partners set a $475.00 price target on shares of GE Vernova in a research report on Wednesday, October 15th. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Finally, Bank of America increased their price objective on shares of GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $701.42.

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.