Allianz SE Buys Shares of 12,948 GE Vernova Inc. $GEV

Allianz SE purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,948 shares of the company’s stock, valued at approximately $7,962,000.

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

GE Vernova Trading Down 0.4%

Shares of NYSE:GEV opened at $872.64 on Friday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $894.93. The company has a market cap of $235.20 billion, a PE ratio of 49.02, a price-to-earnings-growth ratio of 3.49 and a beta of 1.67. The company’s 50 day moving average is $726.02 and its 200 day moving average is $648.74.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. During the same quarter in the previous year, the firm posted $1.73 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on GEV. Mizuho set a $714.00 price objective on shares of GE Vernova in a research note on Tuesday, February 3rd. Morgan Stanley reissued an “overweight” rating and issued a $817.00 price target on shares of GE Vernova in a research report on Monday, January 26th. Jefferies Financial Group restated a “buy” rating and set a $930.00 price objective on shares of GE Vernova in a research note on Thursday, January 29th. Glj Research raised their price objective on GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Finally, Evercore boosted their target price on shares of GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. 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 given a Sell rating to the company. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $788.24.

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.