GE Vernova Inc. $GEV Stock Holdings Lowered by Shell Asset Management Co.

Shell Asset Management Co. trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 33.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,612 shares of the company’s stock after selling 2,282 shares during the quarter. Shell Asset Management Co.’s holdings in GE Vernova were worth $2,836,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of GE Vernova by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock worth $13,051,258,000 after acquiring an additional 271,958 shares in the last quarter. State Street Corp lifted its holdings in shares of GE Vernova by 1.9% during the second 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 during the last quarter. Geode Capital Management LLC boosted its position in shares of GE Vernova by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock valued at $3,221,404,000 after purchasing an additional 129,315 shares during the period. Norges Bank purchased a new position in GE Vernova in the 2nd quarter worth about $1,809,220,000. Finally, Invesco Ltd. raised its holdings in GE Vernova by 26.3% during 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 during the period.

Analysts Set New Price Targets

Several research analysts have commented on GEV shares. Royal Bank Of Canada raised their target price on shares of GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Oppenheimer reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 29th. BMO Capital Markets reissued an “outperform” rating and set a $785.00 target price on shares of GE Vernova in a research note on Thursday, January 29th. TD Cowen raised their target price on GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Finally, Wells Fargo & Company lifted their price target on GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $788.24.

GE Vernova Trading Down 1.8%

NYSE GEV opened at $801.76 on Friday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $846.00. The company has a market capitalization of $216.10 billion, a PE ratio of 45.04, a price-to-earnings-growth ratio of 3.19 and a beta of 1.67. The firm’s fifty day simple moving average is $689.84 and its 200-day simple moving average is $635.51.

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

GE Vernova Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 5th were issued a $0.50 dividend. 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 yield of 0.2%. The ex-dividend date was Monday, January 5th. GE Vernova’s dividend payout ratio is currently 11.24%.

GE Vernova 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.