KLP Kapitalforvaltning AS Purchases 2,600 Shares of GE Vernova Inc. $GEV

KLP Kapitalforvaltning AS raised its holdings in GE Vernova Inc. (NYSE:GEV) by 2.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 107,310 shares of the company’s stock after purchasing an additional 2,600 shares during the period. KLP Kapitalforvaltning AS’s holdings in GE Vernova were worth $65,985,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sachetta LLC grew its stake in shares of GE Vernova by 10.7% during the second quarter. Sachetta LLC now owns 165 shares of the company’s stock worth $87,000 after buying an additional 16 shares during the last quarter. Good Life Advisors LLC raised its stake in GE Vernova by 1.0% during the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after buying an additional 16 shares during the period. Bell Investment Advisors Inc grew its holdings in shares of GE Vernova by 6.7% during the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after buying an additional 16 shares during the last quarter. Northwest Wealth Management LLC grew its stake in shares of GE Vernova by 3.6% in the 3rd quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock worth $286,000 after acquiring an additional 16 shares in the last quarter. Finally, AMG National Trust Bank boosted its stake in shares of GE Vernova by 1.5% in the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock worth $606,000 after buying an additional 17 shares during the last quarter.

Analyst Ratings Changes

GEV has been the topic of a number of research reports. Mizuho lowered their price target on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. The Goldman Sachs Group upped their price target on GE Vernova from $735.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. TD Cowen decreased their target price on GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Wells Fargo & Company lifted their price objective on shares of GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $691.11.

GE Vernova Stock Performance

GE Vernova stock opened at $686.52 on Wednesday. The stock has a market cap of $186.27 billion, a PE ratio of 111.81, a price-to-earnings-growth ratio of 2.85 and a beta of 1.67. The stock has a fifty day moving average of $617.04 and a 200 day moving average of $605.03. GE Vernova Inc. has a one year low of $252.25 and a one year high of $731.00.

GE Vernova (NYSE:GEV) last released its 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 return on equity of 17.07% and a net margin of 4.52%.The firm had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the previous year, the business posted ($0.35) EPS. GE Vernova’s revenue was up 11.8% on a year-over-year basis. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal 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 given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio is 32.57%.

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.