GE Vernova Inc. $GEV Shares Acquired by Stevens Capital Management LP

Stevens Capital Management LP grew its stake in GE Vernova Inc. (NYSE:GEV) by 56.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,640 shares of the company’s stock after acquiring an additional 1,307 shares during the period. Stevens Capital Management LP’s holdings in GE Vernova were worth $2,238,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in GEV. Synergy Asset Management LLC raised its position in GE Vernova by 300.0% in the third quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock worth $1,078,000 after acquiring an additional 1,413 shares in the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of 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 purchasing an additional 3,278 shares during the period. Kercheville Advisors LLC increased its holdings in shares of GE Vernova by 238.3% in the 3rd quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock valued at $3,016,000 after purchasing an additional 3,455 shares in the last quarter. Rakuten Investment Management Inc. purchased a new position in shares of GE Vernova in the 3rd quarter valued at about $18,601,000. Finally, Nordea Investment Management AB lifted its stake in shares of GE Vernova by 136.1% in the third quarter. Nordea Investment Management AB now owns 561,213 shares of the company’s stock valued at $341,038,000 after purchasing an additional 323,481 shares during the period.

GE Vernova Stock Performance

GEV stock opened at $829.65 on Friday. The stock’s 50 day moving average price is $704.97 and its 200 day moving average price is $641.29. The firm has a market cap of $223.62 billion, a P/E ratio of 46.61, a PEG ratio of 3.32 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 released its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping 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 company had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. During the same period in the previous year, the firm posted $1.73 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s dividend payout ratio is 11.24%.

Analysts Set New Price Targets

GEV has been the topic of several recent analyst reports. Oppenheimer restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 29th. UBS Group restated a “buy” rating on shares of GE Vernova in a report on Thursday, January 29th. China Renaissance raised GE Vernova to a “strong-buy” rating in a research note on Thursday, January 29th. Wall Street Zen upgraded GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Finally, The Goldman Sachs Group upped their target price on GE Vernova from $840.00 to $925.00 and gave the company a “buy” rating in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one 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.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target 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.