Muhlenkamp & Co. Inc. Acquires New Shares in GE Vernova Inc. $GEV

Muhlenkamp & Co. Inc. bought a new position in GE Vernova Inc. (NYSE:GEV) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 1,426 shares of the company’s stock, valued at approximately $877,000. GE Vernova accounts for about 0.2% of Muhlenkamp & Co. Inc.’s portfolio, making the stock its 27th biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bay Harbor Wealth Management LLC increased its holdings 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 during the last quarter. Elevation Wealth Partners LLC grew its position in 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 acquiring an additional 17 shares in the last quarter. Deseret Mutual Benefit Administrators increased its stake in shares of GE Vernova by 112.0% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock worth $33,000 after purchasing an additional 28 shares during the last quarter. WFA Asset Management Corp bought a new position in shares of GE Vernova during the 2nd quarter valued at $29,000. Finally, Howard Hughes Medical Institute acquired a new stake in shares of GE Vernova in the 2nd quarter valued at $31,000.

GE Vernova Trading Down 0.0%

GEV opened at $818.88 on Thursday. The business has a 50 day moving average of $699.24 and a 200-day moving average of $638.78. The stock has a market capitalization of $220.71 billion, a price-to-earnings ratio of 46.00, a P/E/G ratio of 3.26 and a beta of 1.67. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $846.00.

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

GE Vernova Announces Dividend

The business also recently disclosed 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 is currently 11.24%.

Analysts Set New Price Targets

GEV has been the topic of several analyst reports. Glj Research increased their target price on shares of GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Morgan Stanley reiterated an “overweight” rating and set a $817.00 price target on shares of GE Vernova in a research note on Monday, January 26th. Susquehanna raised their price objective on GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a research note on Thursday, January 29th. Oppenheimer restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 29th. Finally, China Renaissance raised GE Vernova to a “strong-buy” rating in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova 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.