GE Vernova Inc. $GEV Shares Purchased by Caisse Des Depots ET Consignations

Caisse Des Depots ET Consignations grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 72.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,755 shares of the company’s stock after acquiring an additional 4,931 shares during the quarter. Caisse Des Depots ET Consignations’ holdings in GE Vernova were worth $7,228,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of GEV. Mitchell Capital Management Co. bought a new stake in GE Vernova in the 3rd quarter valued at about $4,229,000. Eubel Brady & Suttman Asset Management Inc. grew its position in GE Vernova by 3.8% in the 3rd quarter. Eubel Brady & Suttman Asset Management Inc. now owns 546 shares of the company’s stock worth $336,000 after purchasing an additional 20 shares during the last quarter. Drake & Associates LLC increased its stake in shares of GE Vernova by 3.0% in the third quarter. Drake & Associates LLC now owns 682 shares of the company’s stock valued at $382,000 after purchasing an additional 20 shares during the period. Savvy Advisors Inc. increased its stake in shares of GE Vernova by 27.9% in the third quarter. Savvy Advisors Inc. now owns 3,269 shares of the company’s stock valued at $2,010,000 after purchasing an additional 714 shares during the period. Finally, Onyx Bridge Wealth Group LLC raised its holdings in shares of GE Vernova by 34.6% during the third quarter. Onyx Bridge Wealth Group LLC now owns 712 shares of the company’s stock valued at $438,000 after buying an additional 183 shares during the last quarter.

GE Vernova Stock Up 4.0%

Shares of NYSE GEV opened at $822.11 on Thursday. The stock’s fifty day simple moving average is $682.66 and its 200 day simple moving average is $633.16. The stock has a market capitalization of $221.58 billion, a price-to-earnings ratio of 46.19, a PEG ratio of 3.15 and a beta of 1.67. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $834.00.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. The business had revenue of $10.96 billion during the quarter, compared to analyst estimates of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.GE Vernova’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $1.73 EPS. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 5th were issued a dividend of $0.50 per share. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Monday, January 5th. GE Vernova’s dividend payout ratio (DPR) is presently 11.24%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GEV shares. UBS Group reissued a “buy” rating on shares of GE Vernova in a report on Thursday, January 29th. Jefferies Financial Group reissued a “buy” rating and issued a $930.00 price target on shares of GE Vernova in a research note on Thursday, January 29th. Evercore raised their price target on GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Oppenheimer restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 29th. Finally, Rothschild & Co Redburn set a $475.00 target price on shares of GE Vernova in a research report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $788.24.

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.