DSM Capital Partners LLC Has $121.86 Million Holdings in GE Vernova Inc. $GEV

DSM Capital Partners LLC boosted its stake in GE Vernova Inc. (NYSE:GEV) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 198,177 shares of the company’s stock after purchasing an additional 1,186 shares during the period. GE Vernova comprises approximately 1.7% of DSM Capital Partners LLC’s investment portfolio, making the stock its 19th biggest position. DSM Capital Partners LLC’s holdings in GE Vernova were worth $121,859,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Bay Harbor Wealth Management LLC increased its stake in shares of GE Vernova by 537.5% in the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the period. Elevation Wealth Partners LLC boosted its holdings in GE Vernova by 47.2% in the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after acquiring an additional 17 shares during the last quarter. WFA Asset Management Corp bought a new stake in GE Vernova in the second quarter valued at approximately $29,000. Howard Hughes Medical Institute acquired a new stake in GE Vernova during the 2nd quarter valued at approximately $31,000. Finally, Monetary Management Group Inc. bought a new position in GE Vernova during the 2nd quarter worth approximately $32,000.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Evercore ISI started coverage on shares of GE Vernova in a research note on Monday, December 15th. They issued an “outperform” rating and a $860.00 price objective on the stock. TD Cowen cut their price target on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Rothschild & Co Redburn reiterated a “sell” rating and set a $475.00 price target on shares of GE Vernova in a report on Wednesday, October 15th. Citigroup dropped their price objective on GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $761.00 target price on shares of GE Vernova in a research report on Monday, December 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $691.11.

GE Vernova Price Performance

GEV stock opened at $686.52 on Wednesday. The stock has a market capitalization of $186.27 billion, a PE ratio of 111.81, a price-to-earnings-growth ratio of 2.85 and a beta of 1.67. The company’s 50-day moving average is $617.04 and its 200-day moving average is $605.03. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $731.00.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.35) earnings per share. On average, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, January 5th. 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 dividend yield of 0.3%. GE Vernova’s payout ratio is currently 32.57%.

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.