Empirical Asset Management LLC Increases Stock Position in GE Vernova Inc. $GEV

Empirical Asset Management LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 498.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,103 shares of the company’s stock after acquiring an additional 6,748 shares during the period. GE Vernova makes up 0.8% of Empirical Asset Management LLC’s investment portfolio, making the stock its 26th largest holding. Empirical Asset Management LLC’s holdings in GE Vernova were worth $4,983,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GEV. Norges Bank bought a new position in GE Vernova during the 2nd quarter valued at approximately $1,809,220,000. Arrowstreet Capital Limited Partnership grew its stake in shares of GE Vernova by 273.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock worth $798,126,000 after acquiring an additional 1,104,747 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of GE Vernova by 771.3% during the second quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock valued at $403,861,000 after acquiring an additional 675,629 shares in the last quarter. Invesco Ltd. increased its holdings in shares of GE Vernova by 26.3% during the second quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock valued at $1,173,262,000 after acquiring an additional 462,038 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in shares of GE Vernova by 66.0% in the 2nd quarter. Raymond James Financial Inc. now owns 944,567 shares of the company’s stock worth $499,817,000 after purchasing an additional 375,677 shares during the last quarter.

GE Vernova Trading Up 5.7%

Shares of GEV stock opened at $879.25 on Wednesday. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $879.89. The stock has a market capitalization of $236.98 billion, a P/E ratio of 49.40, a P/E/G ratio of 3.31 and a beta of 1.67. The firm’s 50 day moving average is $711.80 and its 200 day moving average is $643.99.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $10.21 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. GE Vernova’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s payout ratio is 11.24%.

Wall Street Analyst Weigh In

GEV has been the topic of several recent analyst reports. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Susquehanna increased their price target on shares of GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a report on Thursday, January 29th. Glj Research raised their price target on shares of GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Oppenheimer restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 29th. Finally, Mizuho set a $714.00 target price on GE Vernova in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $788.24.

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.