Caprock Group LLC Takes $13.77 Million Position in GE Vernova Inc. $GEV

Caprock Group LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,460 shares of the company’s stock, valued at approximately $13,767,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GEV. Bay Harbor Wealth Management LLC boosted its position in shares of GE Vernova by 537.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Elevation Wealth Partners LLC lifted its stake in shares of GE Vernova by 47.2% in the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after purchasing an additional 17 shares during the period. Deseret Mutual Benefit Administrators boosted its holdings in GE Vernova by 112.0% during the third quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock worth $33,000 after buying an additional 28 shares in the last quarter. WFA Asset Management Corp purchased a new stake in GE Vernova during the second quarter worth about $29,000. Finally, Howard Hughes Medical Institute acquired a new position in GE Vernova during the second quarter worth about $31,000.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird set a $923.00 price target on shares of GE Vernova and gave the company an “outperform” rating in a research report on Wednesday, February 4th. The Goldman Sachs Group raised their price objective on GE Vernova from $840.00 to $925.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Oppenheimer reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday, January 29th. UBS Group reiterated a “buy” rating on shares of GE Vernova in a research report on Thursday, January 29th. Finally, Evercore raised their price target on GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $790.62 on Wednesday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $814.86. The business has a 50 day moving average price of $678.26 and a 200 day moving average price of $631.83. The company has a market capitalization of $213.10 billion, a P/E ratio of 44.42, a P/E/G ratio of 3.19 and a beta of 1.67.

GE Vernova (NYSE:GEV) last announced 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 analysts’ expectations of $10.21 billion. During the same quarter in the prior year, the firm earned $1.73 EPS. GE Vernova’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 5th were given a dividend of $0.50 per share. The ex-dividend date was Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio (DPR) is 11.24%.

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.