ING Groep NV Grows Position in GE Vernova Inc. $GEV

ING Groep NV lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 30.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,193 shares of the company’s stock after purchasing an additional 31,479 shares during the quarter. ING Groep NV’s holdings in GE Vernova were worth $82,515,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GEV. Vanguard Group Inc. increased its holdings in shares of GE Vernova by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock worth $13,051,258,000 after buying an additional 271,958 shares during the last quarter. State Street Corp boosted its position in GE Vernova by 1.9% during the second quarter. State Street Corp now owns 11,097,778 shares of the company’s stock valued at $5,872,389,000 after buying an additional 206,650 shares during the period. Geode Capital Management LLC lifted its stake in shares of GE Vernova by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock valued at $3,221,404,000 after acquiring an additional 129,315 shares during the last quarter. Norges Bank purchased a new stake in GE Vernova during the 2nd quarter valued at about $1,809,220,000. Finally, Invesco Ltd. grew its position in GE Vernova by 26.3% during the 2nd quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock worth $1,173,262,000 after acquiring an additional 462,038 shares during the last quarter.

GE Vernova Price Performance

Shares of NYSE GEV opened at $790.62 on Wednesday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $814.86. The stock has a market capitalization of $213.10 billion, a P/E ratio of 44.42, a P/E/G ratio of 3.19 and a beta of 1.67. The company’s 50-day moving average is $678.26 and its 200 day moving average is $631.83.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating the consensus estimate of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. During the same period in the previous year, the firm posted $1.73 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 5th were given a dividend of $0.50 per share. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, January 5th. GE Vernova’s dividend payout ratio is presently 11.24%.

Analyst Ratings Changes

Several brokerages have weighed in on GEV. Susquehanna boosted their price objective on GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a research report on Thursday, January 29th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Morgan Stanley restated an “overweight” rating and issued a $817.00 price objective on shares of GE Vernova in a research report on Monday, January 26th. 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 report on Monday, January 12th. Finally, Citigroup raised their target price on GE Vernova from $708.00 to $779.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.