GE Vernova Inc. $GEV Stock Holdings Decreased by Granite Investment Partners LLC

Granite Investment Partners LLC reduced its stake in GE Vernova Inc. (NYSE:GEV) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,326 shares of the company’s stock after selling 2,155 shares during the period. GE Vernova makes up about 2.1% of Granite Investment Partners LLC’s holdings, making the stock its 7th largest holding. Granite Investment Partners LLC’s holdings in GE Vernova were worth $36,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of GE Vernova during the second quarter worth about $1,809,220,000. Arrowstreet Capital Limited Partnership lifted its stake in GE Vernova by 273.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock worth $798,126,000 after acquiring an additional 1,104,747 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in GE Vernova by 771.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock worth $403,861,000 after acquiring an additional 675,629 shares in the last quarter. Invesco Ltd. increased its position in shares of GE Vernova by 26.3% in the 2nd quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock valued at $1,173,262,000 after purchasing an additional 462,038 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of GE Vernova by 66.0% in the 2nd quarter. Raymond James Financial Inc. now owns 944,567 shares of the company’s stock valued at $499,817,000 after purchasing an additional 375,677 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $817.00 price objective on shares of GE Vernova in a research report on Monday, January 26th. Royal Bank Of Canada increased their price objective on GE Vernova from $761.00 to $800.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Evercore boosted their target price on GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. Finally, Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price target 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 assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $788.24.

GE Vernova Stock Down 0.6%

Shares of GEV stock opened at $829.65 on Monday. The stock’s 50-day moving average price is $704.97 and its 200 day moving average price is $641.07. The stock has a market capitalization of $223.62 billion, a PE ratio of 46.61, a price-to-earnings-growth ratio of 3.30 and a beta of 1.67. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $846.00.

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

GE Vernova Announces Dividend

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

GE Vernova 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.