Handelsbanken Fonder AB Grows Position in GE Vernova Inc. $GEV

Handelsbanken Fonder AB raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 44.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,200 shares of the company’s stock after purchasing an additional 3,136 shares during the period. Handelsbanken Fonder AB’s holdings in GE Vernova were worth $6,272,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Generali Investments Management Co LLC bought a new position in shares of GE Vernova in the 3rd quarter valued at about $38,000. Whalerock Point Partners LLC purchased a new stake in shares of GE Vernova in the third quarter valued at $380,000. IAG Wealth Partners LLC lifted its holdings in shares of GE Vernova by 558.8% in the 3rd quarter. IAG Wealth Partners LLC now owns 112 shares of the company’s stock worth $69,000 after acquiring an additional 95 shares during the last quarter. Diversify Wealth Management LLC boosted its stake in shares of GE Vernova by 2.5% during the 3rd quarter. Diversify Wealth Management LLC now owns 1,351 shares of the company’s stock worth $785,000 after purchasing an additional 33 shares during the period. Finally, Xponance Inc. boosted its stake in shares of GE Vernova by 1.3% during the 3rd quarter. Xponance Inc. now owns 65,614 shares of the company’s stock worth $40,346,000 after purchasing an additional 855 shares during the period.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $881.83 on Tuesday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $894.93. The firm has a market capitalization of $237.68 billion, a price-to-earnings ratio of 49.54, a PEG ratio of 3.48 and a beta of 1.44. The stock has a 50 day moving average price of $730.43 and a 200 day moving average price of $650.58.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share 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 business had revenue of $10.96 billion during the quarter, compared to analyst estimates of $10.21 billion. During the same period in the previous year, the company posted $1.73 EPS. GE Vernova’s revenue was up 3.8% on a year-over-year basis. Analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s payout ratio is presently 11.24%.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of recent analyst reports. Robert W. Baird set a $923.00 price objective on shares of GE Vernova and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price target on the stock in a report on Friday, January 30th. Citigroup raised their price target on GE Vernova from $708.00 to $779.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $930.00 price objective on shares of GE Vernova in a research report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $788.24.

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.