GE Vernova Inc. $GEV Stock Holdings Boosted by Valiant Capital Management L.P.

by · The Markets Daily

Valiant Capital Management L.P. raised its position in GE Vernova Inc. (NYSE:GEV – Free Report) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,153 shares of the company’s stock after purchasing an additional 7,200 shares during the quarter. GE Vernova accounts for approximately 4.7% of Valiant Capital Management L.P.’s portfolio, making the stock its 7th largest holding. Valiant Capital Management L.P. owned about 0.06% of GE Vernova worth $85,803,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GEV. Vanguard Group Inc. raised its position 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 purchasing an additional 271,958 shares during the period. State Street Corp grew its holdings in GE Vernova by 1.9% during the 2nd quarter. State Street Corp now owns 11,097,778 shares of the company’s stock valued at $5,872,389,000 after purchasing an additional 206,650 shares in the last quarter. Geode Capital Management LLC increased its stake in GE Vernova by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock worth $3,221,404,000 after buying an additional 129,315 shares during the period. Norges Bank purchased a new stake in GE Vernova during the 2nd quarter worth $1,809,220,000. Finally, Invesco Ltd. lifted its holdings in GE Vernova by 26.3% in the 2nd 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 in the last quarter.

GE Vernova Stock Performance

NYSE:GEV opened at $625.02 on Wednesday. The company has a market capitalization of $169.58 billion, a P/E ratio of 101.79, a P/E/G ratio of 4.63 and a beta of 1.71. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The stock’s 50 day moving average price is $591.25 and its 200 day moving average price is $578.74.

GE Vernova (NYSE:GEV – Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the prior year, the business posted ($0.35) EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be given a dividend of $0.50 per share. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s dividend payout ratio (DPR) is currently 16.29%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GEV. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a report on Wednesday. Rothschild & Co Redburn restated a “sell” rating and issued a $475.00 target price on shares of GE Vernova in a research note on Wednesday, October 15th. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target for the company in a research note on Monday, September 15th. UBS Group reaffirmed a “buy” rating on shares of GE Vernova in a research report on Wednesday. Finally, Barclays lifted their target price on GE Vernova from $710.00 to $720.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $640.11.

Check Out Our Latest Stock Analysis on GE Vernova

GE Vernova Profile

(Free Report)

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.

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