Capital Planning Advisors LLC Boosts Stock Position in GE Vernova Inc. $GEV

Capital Planning Advisors LLC grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 11.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,925 shares of the company’s stock after purchasing an additional 628 shares during the quarter. Capital Planning Advisors LLC’s holdings in GE Vernova were worth $3,643,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on GEV shares. Weiss Ratings raised GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Evercore upped their price objective on shares of GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Royal Bank Of Canada increased their target price on shares of GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. BMO Capital Markets reissued an “outperform” rating and issued a $785.00 price target on shares of GE Vernova in a research report on Thursday, January 29th. Finally, Jefferies Financial Group restated a “buy” rating and set a $930.00 price target on shares of GE Vernova in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $788.24.

GE Vernova Trading Down 1.8%

Shares of GE Vernova stock opened at $801.76 on Monday. The company’s 50-day moving average price is $689.84 and its 200-day moving average price is $635.38. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $846.00. The company has a market cap of $216.10 billion, a price-to-earnings ratio of 45.04, a PEG ratio of 3.19 and a beta of 1.67.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. During the same quarter in the prior year, the firm posted $1.73 EPS. GE Vernova’s revenue was up 3.8% on a year-over-year basis. On average, sell-side 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 was paid on Monday, February 2nd. Investors of record on Monday, January 5th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, January 5th. GE Vernova’s dividend payout ratio (DPR) is 11.24%.

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.