Lbp Am Sa Has $39.24 Million Stock Position in GE Vernova Inc. $GEV

by · The Markets Daily

Lbp Am Sa lessened its position in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 15.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,817 shares of the company’s stock after selling 11,477 shares during the period. Lbp Am Sa’s holdings in GE Vernova were worth $39,241,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position 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 valued at $13,051,258,000 after buying an additional 271,958 shares in the last quarter. State Street Corp boosted its holdings in shares of GE Vernova by 1.9% in 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of GE Vernova by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock worth $3,221,404,000 after buying an additional 129,315 shares in the last quarter. Norges Bank acquired a new stake in GE Vernova in the second quarter valued at about $1,809,220,000. Finally, Invesco Ltd. boosted its stake in GE Vernova by 26.3% in 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 in the last quarter.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $657.26 on Monday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $731.00. The business’s 50-day moving average is $639.17 and its 200-day moving average is $617.81. The company has a market capitalization of $178.33 billion, a price-to-earnings ratio of 107.05, a P/E/G ratio of 2.79 and a beta of 1.67.

GE Vernova Increases Dividend

The firm 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 dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio (DPR) is currently 32.57%.

Analyst Upgrades and Downgrades

Several research analysts have commented on GEV shares. Morgan Stanley boosted their target price on GE Vernova from $710.00 to $822.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Evercore ISI initiated coverage on shares of GE Vernova in a research note on Monday, December 15th. They issued an “outperform” rating and a $860.00 price objective on the stock. Citigroup raised their target price on GE Vernova from $658.00 to $708.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Redburn Partners set a $475.00 price target on GE Vernova in a research note on Wednesday, October 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a research report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $701.62.

Get Our Latest Research Report on GEV

GE Vernova Company Profile

(Free Report)

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.

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