Cache Advisors LLC Makes New $2.45 Million Investment in GE Vernova Inc. $GEV

Cache Advisors LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,981 shares of the company’s stock, valued at approximately $2,448,000. GE Vernova comprises 0.4% of Cache Advisors LLC’s investment portfolio, making the stock its 28th biggest holding.

Several other institutional investors have also recently modified their holdings of GEV. Vanguard Group Inc. increased its holdings in GE Vernova by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock worth $15,259,028,000 after buying an additional 150,892 shares during the period. State Street Corp boosted 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 valued at $5,872,389,000 after acquiring an additional 206,650 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of GE Vernova by 2.2% in the second quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock worth $3,221,404,000 after acquiring an additional 129,315 shares during the period. Norges Bank acquired a new position in GE Vernova during the second quarter valued at $1,809,220,000. Finally, Invesco Ltd. boosted its stake in shares of 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.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $872.64 on Friday. The firm has a market cap of $235.20 billion, a PE ratio of 49.02, a PEG ratio of 3.48 and a beta of 1.67. The firm has a fifty day moving average of $726.02 and a 200 day moving average of $648.68. GE Vernova Inc. has a one year low of $252.25 and a one year high of $894.93.

GE Vernova (NYSE:GEV) last posted 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. The business had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $1.73 earnings per share. On average, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be paid 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

Several research analysts recently weighed in on GEV shares. Oppenheimer reiterated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $817.00 target price on shares of GE Vernova in a report on Monday, January 26th. Robert W. Baird set a $923.00 target price on shares of GE Vernova and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Evercore raised their price target on shares of GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $930.00 price objective on shares of GE Vernova in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $788.24.

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.