Allianz SE Buys New Position in GE Vernova Inc. $GEV

Allianz SE purchased a new position in GE Vernova Inc. (NYSE:GEV) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 12,948 shares of the company’s stock, valued at approximately $7,962,000.

A number of other hedge funds have also recently modified their holdings of GEV. Jackson Grant Investment Advisers Inc. lifted its position in GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. Bay Harbor Wealth Management LLC increased its position in GE Vernova by 537.5% in the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after buying an additional 43 shares in the last quarter. Elevation Wealth Partners LLC raised its stake in shares of GE Vernova by 47.2% in the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after buying an additional 17 shares during the period. Deseret Mutual Benefit Administrators raised its stake 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 worth $33,000 after buying 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 valued at about $31,000.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Jefferies Financial Group restated a “buy” rating and set a $930.00 target price on shares of GE Vernova in a research note on Thursday, January 29th. Evercore increased their price objective on shares of GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. Weiss Ratings upgraded shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Wolfe Research upgraded shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Finally, Robert W. Baird set a $923.00 price target on GE Vernova and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. One research 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $788.24.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $872.64 on Friday. The business has a 50 day simple moving average of $726.02 and a two-hundred day simple moving average of $648.74. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $894.93. The firm has a market capitalization of $235.20 billion, a PE ratio of 49.02, a price-to-earnings-growth ratio of 3.49 and a beta of 1.67.

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

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 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.