ZEGA Investments LLC Has $1.06 Million Stake in GE Vernova Inc. $GEV

ZEGA Investments LLC cut its stake in GE Vernova Inc. (NYSE:GEV) by 44.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,722 shares of the company’s stock after selling 1,405 shares during the quarter. ZEGA Investments LLC’s holdings in GE Vernova were worth $1,059,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GEV. Synergy Asset Management LLC increased its position in shares of GE Vernova by 300.0% during the third quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock worth $1,078,000 after acquiring an additional 1,413 shares in the last quarter. Pines Wealth Management LLC acquired a new position in GE Vernova in the 2nd quarter worth $408,000. Kercheville Advisors LLC increased its holdings in GE Vernova by 238.3% during the 3rd quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock worth $3,016,000 after purchasing an additional 3,455 shares in the last quarter. Dupree Financial Group LLC acquired a new stake in shares of GE Vernova in the 2nd quarter valued at about $253,000. Finally, International Assets Investment Management LLC raised its stake in shares of GE Vernova by 18.8% in the 2nd quarter. International Assets Investment Management LLC now owns 3,903 shares of the company’s stock valued at $2,065,000 after purchasing an additional 619 shares during the period.

GE Vernova Stock Performance

NYSE GEV opened at $640.17 on Tuesday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $731.00. The firm’s fifty day moving average price is $621.72 and its two-hundred day moving average price is $608.79. The stock has a market cap of $173.69 billion, a PE ratio of 104.26, a PEG ratio of 2.61 and a beta of 1.67.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period in the previous year, the business posted ($0.35) earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share 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 given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 annualized dividend and a yield of 0.3%. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio is 32.57%.

Wall Street Analysts Forecast Growth

Several research firms have commented on GEV. Susquehanna boosted their target price on GE Vernova from $750.00 to $775.00 and gave the company a “positive” rating in a research note on Wednesday, December 10th. Barclays boosted their price target on GE Vernova from $800.00 to $830.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Jefferies Financial Group set a $830.00 target price on shares of GE Vernova in a research note on Monday, December 22nd. TD Cowen reduced their price target on GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Finally, Cowen restated a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Three 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 assigned a Sell rating to the company’s stock. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $703.04.

GE Vernova Company 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.