Orion Porfolio Solutions LLC Acquires 3,165 Shares of GE Vernova Inc. $GEV

Orion Porfolio Solutions LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 28.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,167 shares of the company’s stock after acquiring an additional 3,165 shares during the period. Orion Porfolio Solutions LLC’s holdings in GE Vernova were worth $7,496,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GEV. Norges Bank acquired a new stake in GE Vernova during the second quarter valued at approximately $1,809,220,000. Arrowstreet Capital Limited Partnership boosted its stake in GE Vernova by 273.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock valued at $798,126,000 after buying an additional 1,104,747 shares in the last quarter. AQR Capital Management LLC grew its position in GE Vernova by 252.9% in the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after acquiring an additional 892,549 shares during the period. Amundi grew its position in GE Vernova by 109.0% in the first quarter. Amundi now owns 1,665,980 shares of the company’s stock valued at $496,013,000 after acquiring an additional 868,927 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in GE Vernova by 10,044.9% during the second quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after acquiring an additional 834,129 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wolfe Research upgraded shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Evercore ISI initiated coverage on shares of GE Vernova in a research report on Monday. They issued an “outperform” rating and a $860.00 price target on the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. 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 report on Wednesday, December 10th. Finally, BMO Capital Markets raised their price target on GE Vernova from $710.00 to $780.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $662.15.

GE Vernova Trading Up 1.6%

Shares of GEV stock opened at $682.18 on Tuesday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $731.00. The firm’s 50 day moving average is $598.65 and its 200-day moving average is $584.99. The firm has a market capitalization of $185.09 billion, a price-to-earnings ratio of 111.10, a PEG ratio of 5.12 and a beta of 1.71.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter last year, the firm earned ($0.35) EPS. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s payout ratio is currently 32.57%.

About GE Vernova

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.