Rakuten Securities Inc. Trims Stake in GE Vernova Inc. $GEV

Rakuten Securities Inc. decreased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 60.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 979 shares of the company’s stock after selling 1,510 shares during the period. Rakuten Securities Inc.’s holdings in GE Vernova were worth $602,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GEV. Synergy Asset Management LLC increased its stake in GE Vernova by 300.0% during the third quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock worth $1,078,000 after acquiring an additional 1,413 shares during the last quarter. Pines Wealth Management LLC purchased a new stake in shares of GE Vernova during the 2nd quarter worth about $408,000. Kercheville Advisors LLC grew its holdings in shares of GE Vernova by 238.3% during the 3rd quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock worth $3,016,000 after purchasing an additional 3,455 shares during the period. Dupree Financial Group LLC acquired a new stake in GE Vernova during the 2nd quarter worth approximately $253,000. Finally, International Assets Investment Management LLC raised its holdings in GE Vernova by 18.8% in the second quarter. International Assets Investment Management LLC now owns 3,903 shares of the company’s stock valued at $2,065,000 after buying an additional 619 shares during the period.

Analyst Ratings Changes

Several research firms recently weighed in on GEV. Glj Research lifted their target price on shares of GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a report on Monday. Citigroup raised their price objective on GE Vernova from $658.00 to $708.00 and gave the company a “neutral” rating in a research report on Monday. Oppenheimer raised GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 target price for the company in a research report on Wednesday, December 10th. The Goldman Sachs Group increased their target price on GE Vernova from $735.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Finally, UBS Group boosted their price target on GE Vernova from $760.00 to $835.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $703.04.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $644.54 on Thursday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $731.00. The stock’s 50-day simple moving average is $625.50 and its 200-day simple moving average is $609.95. The firm has a market cap of $174.88 billion, a price-to-earnings ratio of 104.97, a PEG ratio of 2.73 and a beta of 1.67.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS 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 during the quarter, compared to analysts’ expectations of $9.15 billion. During the same period in the prior year, the company posted ($0.35) EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be paid a dividend of $0.50 per share. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is currently 32.57%.

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.