Mitchell Capital Management Co. Purchases New Position in GE Vernova Inc. $GEV

Mitchell Capital Management Co. acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,877 shares of the company’s stock, valued at approximately $4,229,000.

Other institutional investors also recently made changes to their positions in the company. WFA Asset Management Corp acquired a new stake in GE Vernova during the 2nd quarter worth approximately $29,000. Howard Hughes Medical Institute bought a new position in GE Vernova during the 2nd quarter worth $31,000. Bay Harbor Wealth Management LLC lifted its holdings in shares of GE Vernova by 537.5% during 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. Monetary Management Group Inc. acquired a new stake in shares of GE Vernova during the second quarter worth $32,000. Finally, Elevation Wealth Partners LLC boosted its position 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 valued at $33,000 after acquiring an additional 17 shares during the period.

Analysts Set New Price Targets

GEV has been the subject of several analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $930.00 price objective on shares of GE Vernova in a research note on Thursday, January 29th. Barclays reaffirmed an “overweight” rating and set a $849.00 target price on shares of GE Vernova in a report on Monday, February 2nd. China Renaissance upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, January 29th. Citigroup increased their price target on GE Vernova from $708.00 to $779.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Finally, Morgan Stanley restated an “overweight” rating and set a $817.00 price objective on shares of GE Vernova in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Stock Performance

GE Vernova stock opened at $822.11 on Thursday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $834.00. The stock has a market capitalization of $221.58 billion, a P/E ratio of 46.19, a price-to-earnings-growth ratio of 3.15 and a beta of 1.67. The stock has a fifty day moving average of $682.66 and a 200-day moving average of $633.16.

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

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 5th were 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 was Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. 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.