Patten Group Inc. Has $1.92 Million Stake in GE Vernova Inc. $GEV

Patten Group Inc. lifted its stake in GE Vernova Inc. (NYSE:GEV) by 39.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,116 shares of the company’s stock after buying an additional 874 shares during the period. Patten Group Inc.’s holdings in GE Vernova were worth $1,916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in GEV. Synergy Asset Management LLC raised its position in GE Vernova by 300.0% during the third quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock valued at $1,078,000 after purchasing an additional 1,413 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in shares of GE Vernova by 25.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock valued at $9,990,000 after purchasing an additional 3,278 shares during the last quarter. Kercheville Advisors LLC increased its stake in shares of GE Vernova by 238.3% in the 3rd quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock valued at $3,016,000 after purchasing an additional 3,455 shares during the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of GE Vernova during the 3rd quarter worth $18,601,000. Finally, Vanguard Group Inc. lifted its position in shares of GE Vernova by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock worth $15,259,028,000 after buying an additional 150,892 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms have issued reports on GEV. Weiss Ratings upgraded GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Citigroup increased their target price on shares of GE Vernova from $708.00 to $779.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. Evercore upped their price objective on shares of GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $930.00 price objective on shares of GE Vernova in a research note 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 given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $788.24.

GE Vernova Price Performance

GE Vernova stock opened at $831.01 on Tuesday. The business has a 50 day moving average of $707.95 and a 200-day moving average of $642.37. The company has a market capitalization of $223.98 billion, a P/E ratio of 46.69, a P/E/G ratio of 3.30 and a beta of 1.67. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $846.00.

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

GE Vernova Announces Dividend

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