Matisse Capital Acquires New Shares in GE Vernova Inc. $GEV

Matisse Capital acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,322 shares of the company’s stock, valued at approximately $813,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEV. Sachetta LLC increased its holdings in shares of GE Vernova by 10.7% in the second quarter. Sachetta LLC now owns 165 shares of the company’s stock worth $87,000 after acquiring an additional 16 shares in the last quarter. Good Life Advisors LLC lifted its holdings in shares of GE Vernova by 1.0% during the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock valued at $875,000 after purchasing an additional 16 shares in the last quarter. Bell Investment Advisors Inc grew its position in shares of GE Vernova by 6.7% in the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after purchasing an additional 16 shares during the period. Northwest Wealth Management LLC raised its holdings in GE Vernova by 3.6% during the 3rd quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock worth $286,000 after buying an additional 16 shares during the period. Finally, AMG National Trust Bank raised its holdings in GE Vernova by 1.5% during the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock worth $606,000 after buying an additional 17 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GEV. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $761.00 price objective on shares of GE Vernova in a research report on Monday, December 22nd. Barclays upped their target price on shares of GE Vernova from $800.00 to $830.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. UBS Group increased their target price on GE Vernova from $760.00 to $835.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Finally, BMO Capital Markets boosted their price target on GE Vernova from $710.00 to $780.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $703.04.

GE Vernova Trading Up 6.2%

Shares of GEV stock opened at $681.78 on Tuesday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $731.00. The firm’s fifty day moving average price is $631.50 and its two-hundred day moving average price is $613.89. The firm has a market capitalization of $184.98 billion, a P/E ratio of 111.04, a PEG ratio of 2.85 and a beta of 1.67.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.35) earnings per share. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be paid a $0.50 dividend. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio is 32.57%.

GE Vernova Company 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.