BTG Pactual Asset Management US LLC Raises Stock Holdings in GE Vernova Inc. $GEV

BTG Pactual Asset Management US LLC raised its stake in GE Vernova Inc. (NYSE:GEV) by 268.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,063 shares of the company’s stock after buying an additional 8,062 shares during the quarter. BTG Pactual Asset Management US LLC’s holdings in GE Vernova were worth $5,854,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. WFA Asset Management Corp acquired a new position in shares of GE Vernova in the 2nd quarter worth approximately $29,000. 1248 Management LLC acquired a new stake in GE Vernova in the 1st quarter valued at approximately $31,000. Howard Hughes Medical Institute purchased a new stake in GE Vernova in the second quarter valued at approximately $31,000. Saudi Central Bank acquired a new position in GE Vernova during the first quarter worth $33,000. Finally, Ransom Advisory Ltd purchased a new position in shares of GE Vernova during the first quarter worth $33,000.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GEV. Wolfe Research upgraded GE Vernova from a “peer perform” rating to a “buy” rating in a report on Wednesday. Bank of America lifted their target price on GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a research report on Wednesday. BMO Capital Markets increased their price target on shares of GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a research report on Wednesday. Melius raised shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective for the company in a research note on Monday, September 15th. Finally, Rothschild & Co Redburn reaffirmed a “sell” rating and set a $475.00 target price on shares of GE Vernova in a research note on Wednesday, October 15th. Three 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $654.54.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $672.32 on Friday. The business has a 50-day simple moving average of $597.06 and a 200-day simple moving average of $582.05. GE Vernova Inc. has a one year low of $252.25 and a one year high of $731.00. The company has a market cap of $182.41 billion, a PE ratio of 109.50, a P/E/G ratio of 5.28 and a beta of 1.71.

GE Vernova (NYSE:GEV) last issued its earnings results 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 firm had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same period last year, the business earned ($0.35) EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. On average, 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 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. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. GE Vernova’s dividend payout ratio is presently 32.57%.

About GE Vernova

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.