Kinetic Partners Management LP Cuts Holdings in GE Vernova Inc. $GEV

Kinetic Partners Management LP lowered its position in GE Vernova Inc. (NYSE:GEV) by 69.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,165 shares of the company’s stock after selling 40,700 shares during the period. Kinetic Partners Management LP’s holdings in GE Vernova were worth $11,170,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Synergy Asset Management LLC lifted its position in shares of GE Vernova by 300.0% during the 3rd quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock valued at $1,078,000 after buying an additional 1,413 shares in the last quarter. J.W. Cole Advisors Inc. grew its stake in 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 acquiring an additional 3,278 shares during the period. Kercheville Advisors LLC increased its holdings in GE Vernova by 238.3% in the 3rd quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock worth $3,016,000 after acquiring an additional 3,455 shares in the last quarter. Rakuten Investment Management Inc. purchased a new stake in GE Vernova in the 3rd quarter worth $18,601,000. Finally, US Bancorp DE raised its position in GE Vernova by 2.2% during the third quarter. US Bancorp DE now owns 100,542 shares of the company’s stock worth $61,824,000 after acquiring an additional 2,163 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GEV. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price objective on the stock in a report on Friday, January 30th. Morgan Stanley reissued an “overweight” rating and set a $817.00 target price on shares of GE Vernova in a research note on Monday, January 26th. Weiss Ratings upgraded shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Citigroup raised their price target on shares of GE Vernova from $708.00 to $779.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Finally, Glj Research lifted their price objective on GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $831.29.

GE Vernova Trading Up 2.6%

GEV stock opened at $825.99 on Tuesday. The firm has a 50-day moving average of $762.83 and a two-hundred day moving average of $665.47. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $894.93. The company has a market cap of $222.63 billion, a price-to-earnings ratio of 46.40, a PEG ratio of 3.20 and a beta of 1.44.

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

GE Vernova Announces Dividend

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