Asset Management One Co. Ltd. Decreases Stake in GE Vernova Inc. $GEV

Asset Management One Co. Ltd. cut its stake in shares of GE Vernova Inc. (NYSE:GEV) by 0.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 125,965 shares of the company’s stock after selling 1,090 shares during the period. Asset Management One Co. Ltd.’s holdings in GE Vernova were worth $77,456,000 as of its most recent SEC filing.

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

GE Vernova Trading Up 3.8%

Shares of NYSE GEV opened at $678.29 on Friday. The stock has a market cap of $184.03 billion, a P/E ratio of 110.47, a P/E/G ratio of 2.85 and a beta of 1.67. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $731.00. The stock has a 50 day moving average of $612.80 and a two-hundred day moving average of $601.50.

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

GE Vernova Increases Dividend

The firm also recently disclosed 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 boost 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 (DPR) is presently 16.29%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GEV. Rothschild Redb cut GE Vernova from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. The Goldman Sachs Group boosted their target price on GE Vernova from $735.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday, October 8th. Barclays raised their price objective on shares of GE Vernova from $710.00 to $720.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Finally, Jefferies Financial Group set a $830.00 target price on shares of GE Vernova in a report on Monday, December 22nd. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $691.11.

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.