Coldstream Capital Management Inc. Has $4.49 Million Stock Position in GE Vernova Inc. $GEV

Coldstream Capital Management Inc. boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 12.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,302 shares of the company’s stock after purchasing an additional 783 shares during the quarter. Coldstream Capital Management Inc.’s holdings in GE Vernova were worth $4,490,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Danske Bank A S bought a new stake in GE Vernova in the 3rd quarter valued at $91,097,000. Caitong International Asset Management Co. Ltd bought a new position in shares of GE Vernova during the 3rd quarter worth about $100,000. Stance Capital LLC bought a new position in shares of GE Vernova during the 3rd quarter worth about $58,000. GM Advisory Group LLC acquired a new position in shares of GE Vernova during the third quarter valued at about $291,000. Finally, Silvant Capital Management LLC raised its position in shares of GE Vernova by 3.5% during the third quarter. Silvant Capital Management LLC now owns 82,932 shares of the company’s stock valued at $50,995,000 after buying an additional 2,836 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Weiss Ratings raised GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $930.00 price target on shares of GE Vernova in a report on Thursday, January 29th. Evercore raised their price objective on GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Bank of America lifted their price objective on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Finally, JPMorgan Chase & Co. restated an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $831.29.

GE Vernova Trading Up 1.5%

Shares of GEV opened at $856.81 on Thursday. The stock has a market cap of $230.93 billion, a PE ratio of 48.14, a PEG ratio of 3.36 and a beta of 1.45. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $894.93. The stock has a 50 day simple moving average of $769.86 and a 200-day simple moving average of $668.41.

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

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s payout ratio is currently 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.