Munro Partners Invests $96.78 Million in GE Vernova Inc. $GEV

by · The Cerbat Gem

Munro Partners acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 182,888 shares of the company’s stock, valued at approximately $96,775,000. GE Vernova makes up about 3.0% of Munro Partners’ investment portfolio, making the stock its 11th largest position. Munro Partners owned about 0.07% of GE Vernova at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GEV. Pines Wealth Management LLC acquired a new stake in GE Vernova in the second quarter worth about $408,000. Dupree Financial Group LLC bought a new position in shares of GE Vernova in the 2nd quarter valued at about $253,000. International Assets Investment Management LLC grew its position in shares of GE Vernova by 18.8% during the 2nd quarter. International Assets Investment Management LLC now owns 3,903 shares of the company’s stock worth $2,065,000 after buying an additional 619 shares during the period. Alpha Financial Partners LLC bought a new stake in shares of GE Vernova during the second quarter worth approximately $230,000. Finally, Aviva PLC lifted its holdings in GE Vernova by 6.7% in the second quarter. Aviva PLC now owns 205,086 shares of the company’s stock valued at $108,521,000 after buying an additional 12,790 shares during the period.

Wall Street Analyst Weigh In

GEV has been the subject of a number of analyst reports. HSBC lifted their target price on shares of GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a report on Friday, September 5th. Susquehanna raised their target price on GE Vernova from $750.00 to $775.00 and gave the stock a “positive” rating in a report on Wednesday. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price for the company in a research report on Monday, September 15th. Rothschild & Co Redburn reissued a “sell” rating and set a $475.00 price objective on shares of GE Vernova in a research note on Wednesday, October 15th. Finally, William Blair restated an “outperform” rating on shares of GE Vernova in a report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $654.54.

Check Out Our Latest Report on GEV

GE Vernova Stock Performance

Shares of GEV opened at $672.32 on Friday. The stock has a 50 day simple moving average of $597.06 and a 200 day simple moving average of $582.82. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $731.00. The firm has a market capitalization of $182.41 billion, a PE ratio of 109.50, a P/E/G ratio of 5.04 and a beta of 1.71.

GE Vernova (NYSE:GEV – Get Free Report) last announced its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). The company had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.35) earnings per share. Equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, January 5th. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio (DPR) is currently 16.29%.

GE Vernova Company Profile

(Free Report)

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.

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