Pelham Capital Ltd. Boosts Holdings in GE Vernova Inc. $GEV

Pelham Capital Ltd. grew its position in GE Vernova Inc. (NYSE:GEV) by 33.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,781 shares of the company’s stock after acquiring an additional 2,218 shares during the quarter. GE Vernova comprises about 2.7% of Pelham Capital Ltd.’s portfolio, making the stock its 12th largest position. Pelham Capital Ltd.’s holdings in GE Vernova were worth $5,399,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Synergy Asset Management LLC increased its holdings in shares of GE Vernova by 300.0% during the third quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock valued at $1,078,000 after acquiring an additional 1,413 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in GE Vernova by 25.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock worth $9,990,000 after buying an additional 3,278 shares during the last quarter. Kercheville Advisors LLC lifted its stake in GE Vernova by 238.3% during the 3rd quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock valued at $3,016,000 after acquiring an additional 3,455 shares during the period. Dupree Financial Group LLC purchased a new stake in shares of GE Vernova in the 2nd quarter valued at $253,000. Finally, Rakuten Investment Management Inc. acquired a new stake in shares of GE Vernova in the third quarter worth $18,601,000.

GE Vernova Stock Performance

Shares of GEV opened at $801.76 on Friday. The stock has a 50 day moving average price of $689.84 and a 200 day moving average price of $635.51. The stock has a market capitalization of $216.10 billion, a price-to-earnings ratio of 45.04, a PEG ratio of 3.19 and a beta of 1.67. GE Vernova Inc. has a one year low of $252.25 and a one year high of $846.00.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share 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 firm had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $10.21 billion. During the same period last year, the firm posted $1.73 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 5th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, January 5th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s payout ratio is presently 11.24%.

Wall Street Analyst Weigh In

Several research firms have commented on GEV. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. Susquehanna upped their target price on GE Vernova from $800.00 to $820.00 and gave the stock a “positive” rating in a research note on Thursday, January 29th. Glj Research lifted their price target on GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Bank of America raised their price objective on shares of GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Finally, Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 target price for the company in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $788.24.

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.