New England Research & Management Inc. Boosts Stake in GE Vernova Inc. $GEV

New England Research & Management Inc. grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 450.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,910 shares of the company’s stock after acquiring an additional 3,200 shares during the quarter. GE Vernova comprises about 1.1% of New England Research & Management Inc.’s investment portfolio, making the stock its 25th biggest holding. New England Research & Management Inc.’s holdings in GE Vernova were worth $2,404,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Pines Wealth Management LLC purchased a new position in GE Vernova during the second quarter valued at $408,000. Dupree Financial Group LLC purchased a new position in GE Vernova during the second quarter valued at approximately $253,000. International Assets Investment Management LLC raised its position in shares of GE Vernova by 18.8% during the 2nd quarter. International Assets Investment Management LLC now owns 3,903 shares of the company’s stock valued at $2,065,000 after purchasing an additional 619 shares during the period. Alpha Financial Partners LLC bought a new position in GE Vernova in the 2nd quarter worth $230,000. Finally, Aviva PLC raised its holdings in GE Vernova by 6.7% during the second quarter. Aviva PLC now owns 205,086 shares of the company’s stock valued at $108,521,000 after acquiring an additional 12,790 shares during the period.

GE Vernova Stock Up 1.6%

GEV opened at $682.18 on Tuesday. The business has a fifty day moving average of $598.65 and a 200 day moving average of $584.99. The stock has a market cap of $185.09 billion, a P/E ratio of 111.10, a PEG ratio of 5.12 and a beta of 1.71. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $731.00.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.35) earnings per share. Equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a $0.50 dividend. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 annualized dividend and a yield of 0.3%. GE Vernova’s dividend payout ratio is presently 32.57%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GEV. Evercore ISI started coverage on GE Vernova in a research note on Monday. They issued an “outperform” rating and a $860.00 price target for the company. Rothschild & Co Redburn reiterated a “sell” rating and set a $475.00 target price on shares of GE Vernova in a research report on Wednesday, October 15th. BMO Capital Markets lifted their price target on GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. Glj Research raised their price objective on GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Royal Bank Of Canada raised GE Vernova from a “sector perform” rating to an “outperform” rating and set a $761.00 target price on the stock in a research report on Wednesday, December 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $662.15.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.