General American Investors Co. Inc. Buys 10,000 Shares of GE Vernova Inc. $GEV

General American Investors Co. Inc. boosted its stake in GE Vernova Inc. (NYSE:GEV) by 11.1% in the third quarter, Holdings Channel reports. The firm owned 100,000 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. GE Vernova accounts for about 3.6% of General American Investors Co. Inc.’s investment portfolio, making the stock its 4th largest position. General American Investors Co. Inc.’s holdings in GE Vernova were worth $61,490,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its stake in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after buying an additional 753 shares in the last quarter. Kathmere Capital Management LLC lifted its holdings in shares of GE Vernova by 9.2% during the 2nd quarter. Kathmere Capital Management LLC now owns 916 shares of the company’s stock worth $485,000 after acquiring an additional 77 shares during the period. Sonora Investment Management Group LLC bought a new stake in shares of GE Vernova during the 2nd quarter worth approximately $214,000. Tritonpoint Wealth LLC boosted its position in shares of GE Vernova by 35.5% during the 2nd quarter. Tritonpoint Wealth LLC now owns 977 shares of the company’s stock worth $517,000 after acquiring an additional 256 shares in the last quarter. Finally, Lazari Capital Management Inc. bought a new position in GE Vernova in the second quarter valued at approximately $277,000.

GE Vernova Trading Up 1.2%

GE Vernova stock opened at $665.75 on Tuesday. The stock has a 50-day moving average price of $640.96 and a two-hundred day moving average price of $618.70. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $731.00. The company has a market capitalization of $180.63 billion, a PE ratio of 108.43, a P/E/G ratio of 2.79 and a beta of 1.67.

GE Vernova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be issued a $0.50 dividend. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is 32.57%.

Analyst Ratings Changes

GEV has been the subject of several recent analyst reports. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Citigroup upped their price objective on GE Vernova from $658.00 to $708.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $761.00 price objective on shares of GE Vernova in a research note on Monday, December 22nd. BMO Capital Markets boosted their target price on GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Finally, Mizuho dropped their target price on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $701.42.

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.