Xponance Inc. Has $40.35 Million Holdings in GE Vernova Inc. $GEV

Xponance Inc. lifted its stake in GE Vernova Inc. (NYSE:GEV) by 1.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,614 shares of the company’s stock after purchasing an additional 855 shares during the quarter. Xponance Inc.’s holdings in GE Vernova were worth $40,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GEV. Norges Bank acquired a new position in shares of GE Vernova in the second quarter worth $1,809,220,000. Arrowstreet Capital Limited Partnership grew its stake in GE Vernova by 273.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock valued at $798,126,000 after purchasing an additional 1,104,747 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in GE Vernova by 771.3% in the second quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock valued at $403,861,000 after purchasing an additional 675,629 shares in the last quarter. Invesco Ltd. increased its position in GE Vernova by 26.3% in the 2nd quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock worth $1,173,262,000 after purchasing an additional 462,038 shares during the last quarter. Finally, Raymond James Financial Inc. raised its stake in shares of GE Vernova by 66.0% during the 2nd quarter. Raymond James Financial Inc. now owns 944,567 shares of the company’s stock worth $499,817,000 after purchasing an additional 375,677 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. TD Cowen increased their price objective on GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Oppenheimer restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 29th. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price objective for the company in a research note on Friday, January 30th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Finally, Bank of America increased their price objective on GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $788.24.

GE Vernova Stock Performance

NYSE GEV opened at $875.63 on Friday. The stock has a 50-day simple moving average of $721.73 and a 200 day simple moving average of $647.20. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $894.93. The stock has a market capitalization of $236.01 billion, a PE ratio of 49.19, a P/E/G ratio of 3.49 and a beta of 1.67.

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 analyst estimates of $10.21 billion. During the same quarter last year, the firm posted $1.73 EPS. The company’s revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s dividend payout ratio is presently 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.