GE Vernova Inc. $GEV Stake Boosted by Atria Investments Inc

Atria Investments Inc raised its stake in GE Vernova Inc. (NYSE:GEV) by 79.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 9,681 shares of the company’s stock after buying an additional 4,287 shares during the quarter. Atria Investments Inc’s holdings in GE Vernova were worth $5,953,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GEV. Illinois Municipal Retirement Fund boosted its position in shares of GE Vernova by 31.4% during the third quarter. Illinois Municipal Retirement Fund now owns 11,381 shares of the company’s stock worth $6,998,000 after buying an additional 2,722 shares during the period. Wedbush Securities Inc. raised its stake in GE Vernova by 5.6% during the 3rd quarter. Wedbush Securities Inc. now owns 6,107 shares of the company’s stock valued at $3,755,000 after acquiring an additional 324 shares in the last quarter. Varma Mutual Pension Insurance Co boosted its position in GE Vernova by 16.9% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 45,743 shares of the company’s stock worth $28,127,000 after acquiring an additional 6,600 shares during the period. Caisse Des Depots ET Consignations grew its stake in shares of GE Vernova by 72.3% in the third quarter. Caisse Des Depots ET Consignations now owns 11,755 shares of the company’s stock worth $7,228,000 after purchasing an additional 4,931 shares in the last quarter. Finally, Mitchell Capital Management Co. bought a new position in shares of GE Vernova in the third quarter worth $4,229,000.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GEV shares. Susquehanna increased their target price on shares of GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a research report on Thursday, January 29th. Barclays restated an “overweight” rating and set a $849.00 price target on shares of GE Vernova in a research report on Monday, February 2nd. China Renaissance upgraded shares of GE Vernova to a “strong-buy” rating in a report on Thursday, January 29th. Wells Fargo & Company raised their price objective on shares of GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Finally, Citigroup boosted their target price on GE Vernova from $708.00 to $779.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Stock Performance

Shares of GEV stock opened at $801.76 on Friday. The stock’s 50 day simple moving average is $689.84 and its 200 day simple moving average is $635.49. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $846.00. The company has a market capitalization of $216.10 billion, a price-to-earnings ratio of 45.04, a PEG ratio of 3.25 and a beta of 1.67.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The firm had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. On average, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 5th were given a $0.50 dividend. 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 0.2%. The ex-dividend date of this dividend was Monday, January 5th. GE Vernova’s dividend payout ratio (DPR) is currently 11.24%.

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.