Tema Etfs LLC Buys 1,386 Shares of GE Vernova Inc. $GEV

by · The Markets Daily

Tema Etfs LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 13.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,341 shares of the company’s stock after purchasing an additional 1,386 shares during the period. Tema Etfs LLC’s holdings in GE Vernova were worth $6,974,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in 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 during the last quarter. State Street Corp raised its position in shares of GE Vernova by 1.9% during the second quarter. State Street Corp now owns 11,097,778 shares of the company’s stock worth $5,872,389,000 after acquiring an additional 206,650 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of GE Vernova by 2.2% during the second quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock valued at $3,221,404,000 after acquiring an additional 129,315 shares during the period. Norges Bank bought a new position in GE Vernova in the second quarter valued at about $1,809,220,000. Finally, Invesco Ltd. boosted its holdings 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 acquiring an additional 462,038 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have issued reports on GEV shares. Cowen restated a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Bank of America lifted their price target on shares of GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. UBS Group increased their price objective on shares of GE Vernova from $760.00 to $835.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Rothschild Redb cut shares of GE Vernova from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Finally, Baird R W lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $689.00.

Get Our Latest Stock Report on GE Vernova

GE Vernova Stock Performance

Shares of GEV opened at $622.69 on Monday. The firm has a market cap of $168.95 billion, a P/E ratio of 101.41, a PEG ratio of 2.61 and a beta of 1.67. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $731.00. The firm’s 50 day moving average price is $620.58 and its two-hundred day moving average price is $607.85.

GE Vernova (NYSE:GEV – Get Free Report) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates 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 company’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.35) earnings per share. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be given a dividend of $0.50 per share. 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 payout ratio is currently 32.57%.

GE Vernova 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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