26,261 Shares in GE Vernova Inc. $GEV Acquired by Barometer Capital Management Inc.

by · The Cerbat Gem

Barometer Capital Management Inc. acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 26,261 shares of the company’s stock, valued at approximately $13,890,000. GE Vernova accounts for about 4.1% of Barometer Capital Management Inc.’s investment portfolio, making the stock its 3rd biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of GE Vernova by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock worth $13,051,258,000 after acquiring an additional 271,958 shares during the period. State Street Corp boosted its stake in GE Vernova by 1.9% during the 2nd quarter. State Street Corp now owns 11,097,778 shares of the company’s stock valued at $5,872,389,000 after purchasing an additional 206,650 shares during the period. Geode Capital Management LLC grew its position 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 worth $3,221,404,000 after purchasing an additional 129,315 shares during the last quarter. Norges Bank acquired a new stake in shares of GE Vernova in the second quarter valued at approximately $1,809,220,000. Finally, Invesco Ltd. raised its holdings in shares of GE Vernova by 26.3% during the second quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock valued at $1,173,262,000 after buying an additional 462,038 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GEV shares. Citigroup decreased their price objective on GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Jefferies Financial Group reissued a “hold” rating and issued a $654.00 price target on shares of GE Vernova in a research note on Monday, October 27th. UBS Group lifted their price objective on shares of GE Vernova from $760.00 to $835.00 and gave the company a “buy” rating in a research note on Wednesday. Oppenheimer upgraded shares of GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 target price for the company in a research report on Wednesday. Finally, Susquehanna raised their target price on shares of GE Vernova from $750.00 to $775.00 and gave the company a “positive” rating in a research note on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $654.54.

Get Our Latest Stock Analysis on GE Vernova

GE Vernova Stock Down 4.5%

NYSE:GEV opened at $672.32 on Friday. The business’s 50-day moving average price is $597.06 and its 200 day moving average price is $582.05. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $731.00. The firm has a market cap of $182.41 billion, a P/E ratio of 109.50, a PEG ratio of 5.28 and a beta of 1.71.

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

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be issued a $0.50 dividend. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s dividend payout ratio is currently 32.57%.

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.

Further Reading

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