Oak Ridge Investments LLC Takes $12.40 Million Position in GE Vernova Inc. $GEV

Oak Ridge Investments LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,975 shares of the company’s stock, valued at approximately $12,401,000. GE Vernova comprises 0.8% of Oak Ridge Investments LLC’s holdings, making the stock its 24th largest position.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of GE Vernova by 0.6% in the third quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock valued at $15,259,028,000 after buying an additional 150,892 shares during the last quarter. State Street Corp raised its position in shares of GE Vernova by 1.3% in the third quarter. State Street Corp now owns 11,238,278 shares of the company’s stock valued at $6,910,417,000 after buying an additional 140,500 shares during the last quarter. Northern Trust Corp raised its position in shares of GE Vernova by 1.8% in the third quarter. Northern Trust Corp now owns 2,877,458 shares of the company’s stock valued at $1,769,349,000 after buying an additional 51,738 shares during the last quarter. Invesco Ltd. raised its position in shares of GE Vernova by 7.1% in the third quarter. Invesco Ltd. now owns 2,375,738 shares of the company’s stock valued at $1,460,841,000 after buying an additional 158,481 shares during the last quarter. Finally, Capital World Investors increased its position in GE Vernova by 1,907.5% during the third quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after purchasing an additional 2,048,792 shares during the last quarter.

GE Vernova Stock Performance

Shares of GEV stock opened at $992.16 on Tuesday. GE Vernova Inc. has a one year low of $306.21 and a one year high of $1,007.38. The company has a 50 day moving average price of $851.93 and a 200 day moving average price of $705.30. The firm has a market capitalization of $266.75 billion, a price-to-earnings ratio of 55.74, a price-to-earnings-growth ratio of 3.90 and a beta of 1.43.

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

GE Vernova Dividend Announcement

The firm 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 currently 11.24%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Rothschild & Co Redburn raised shares of GE Vernova from a “sell” rating to a “buy” rating and upped their price target for the stock from $560.00 to $1,100.00 in a research report on Monday, March 9th. Mizuho set a $714.00 price target on shares of GE Vernova in a research report on Tuesday, February 3rd. Zacks Research raised shares of GE Vernova from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 30th. The Goldman Sachs Group upped their price target on shares of GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Finally, Weiss Ratings raised shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $889.30.

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.