Northeast Investment Management Has $5.28 Million Position in GE Vernova Inc. $GEV

Northeast Investment Management boosted its position in GE Vernova Inc. (NYSE:GEV) by 9.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,587 shares of the company’s stock after purchasing an additional 767 shares during the quarter. Northeast Investment Management’s holdings in GE Vernova were worth $5,280,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted 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 acquiring an additional 150,892 shares during the period. State Street Corp raised its stake in GE Vernova by 1.9% in the 2nd quarter. State Street Corp now owns 11,097,778 shares of the company’s stock worth $5,872,389,000 after purchasing an additional 206,650 shares in the last quarter. Geode Capital Management LLC boosted its holdings in 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 acquired a new position in shares of GE Vernova during the 2nd quarter worth approximately $1,809,220,000. Finally, Invesco Ltd. grew its position in shares of 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 purchasing an additional 462,038 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GEV shares. Susquehanna lifted their price target on shares of GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a research report on Thursday, January 29th. Evercore upped their target price on GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. BMO Capital Markets restated an “outperform” rating and issued a $785.00 price target on shares of GE Vernova in a research report on Thursday, January 29th. TD Cowen upped their price objective on shares of GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Finally, Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price objective on the stock in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $788.24.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $818.31 on Wednesday. The firm has a 50 day moving average price of $697.31 and a two-hundred day moving average price of $637.51. The stock has a market cap of $220.56 billion, a P/E ratio of 45.97, a price-to-earnings-growth ratio of 3.19 and a beta of 1.67. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $846.00.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $10.21 billion. During the same period in the prior year, the business posted $1.73 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. Analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

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.