Quantbot Technologies LP Has $13.56 Million Holdings in GE Vernova Inc. $GEV

Quantbot Technologies LP lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 49.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,051 shares of the company’s stock after selling 21,574 shares during the period. Quantbot Technologies LP’s holdings in GE Vernova were worth $13,559,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEV. Synergy Asset Management LLC grew its holdings in GE Vernova by 300.0% in the 3rd quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock valued at $1,078,000 after buying an additional 1,413 shares in the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of GE Vernova by 25.3% during the third quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock worth $9,990,000 after buying an additional 3,278 shares in the last quarter. Kercheville Advisors LLC boosted its position in shares of GE Vernova by 238.3% in the third quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock valued at $3,016,000 after acquiring an additional 3,455 shares during the period. Rakuten Investment Management Inc. acquired a new position in shares of GE Vernova in the third quarter valued at about $18,601,000. Finally, Vanguard Group Inc. increased its position in GE Vernova by 0.6% during the third quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock worth $15,259,028,000 after acquiring an additional 150,892 shares during the period.

GE Vernova Price Performance

GEV opened at $872.64 on Friday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $894.93. The company’s 50 day moving average price is $726.02 and its two-hundred day moving average price is $648.74. The firm has a market capitalization of $235.20 billion, a price-to-earnings ratio of 49.02, a PEG ratio of 3.49 and a beta of 1.67.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 EPS 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 for the quarter, compared to analyst estimates of $10.21 billion. During the same period in the previous year, the firm earned $1.73 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities research 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 issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is currently 11.24%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Robert W. Baird set a $923.00 target price on shares of GE Vernova and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Wolfe Research upgraded GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Wells Fargo & Company upped their target price on GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 target price on the stock in a report on Friday, January 30th. Finally, Glj Research raised their price target on GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.