APG Asset Management N.V. Raises Stake in GE Vernova Inc. $GEV

APG Asset Management N.V. grew its stake in GE Vernova Inc. (NYSE:GEV) by 13.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,538 shares of the company’s stock after acquiring an additional 1,900 shares during the period. APG Asset Management N.V.’s holdings in GE Vernova were worth $10,169,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Jackson Grant Investment Advisers Inc. boosted its holdings in GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares in the last quarter. Bay Harbor Wealth Management LLC lifted its holdings in 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 purchasing an additional 43 shares in the last quarter. Elevation Wealth Partners LLC lifted its holdings in GE Vernova by 47.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after purchasing an additional 17 shares in the last quarter. Deseret Mutual Benefit Administrators grew its holdings in shares of GE Vernova by 112.0% in the third quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock valued at $33,000 after purchasing an additional 28 shares during the period. Finally, Howard Hughes Medical Institute purchased a new position in shares of GE Vernova during the 2nd quarter worth $31,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GEV shares. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 10th. China Renaissance raised GE Vernova to a “strong-buy” rating in a research note on Thursday, January 29th. Glj Research lifted their price objective on GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Robert W. Baird set a $923.00 price target on shares of GE Vernova and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Finally, Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price objective on the stock in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Trading Down 4.5%

Shares of NYSE GEV opened at $841.95 on Wednesday. The stock’s 50 day simple moving average is $734.06 and its 200 day simple moving average is $652.14. The company has a market cap of $226.93 billion, a price-to-earnings ratio of 47.30, a price-to-earnings-growth ratio of 3.51 and a beta of 1.45. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $894.93.

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

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is presently 11.24%.

About GE Vernova

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.