Rakuten Investment Management Inc. Has $23.79 Million Position in GE Vernova Inc. $GEV

Rakuten Investment Management Inc. increased its position in GE Vernova Inc. (NYSE:GEV) by 18.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,860 shares of the company’s stock after buying an additional 5,610 shares during the quarter. Rakuten Investment Management Inc.’s holdings in GE Vernova were worth $23,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. boosted its position in GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the period. Cornerstone Financial Management LLC acquired a new stake in GE Vernova during the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC acquired a new stake in GE Vernova during the 3rd quarter worth approximately $25,000. Torren Management LLC acquired a new stake in GE Vernova during the 4th quarter worth approximately $26,000. Finally, ORG Wealth Partners LLC boosted its position in GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after buying an additional 29 shares during the period.

Analysts Set New Price Targets

GEV has been the topic of several recent research reports. Susquehanna set a $1,300.00 target price on shares of GE Vernova in a research report on Thursday, April 23rd. Jefferies Financial Group cut their target price on shares of GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating on the stock in a research report on Thursday. Guggenheim lifted their target price on shares of GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Rothschild & Co Redburn upgraded shares of GE Vernova from a “sell” rating to a “buy” rating and lifted their target price for the stock from $560.00 to $1,100.00 in a research report on Monday, March 9th. Finally, Weiss Ratings upgraded shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,085.16.

GE Vernova Stock Up 4.2%

Shares of NYSE GEV opened at $980.08 on Tuesday. The company has a market capitalization of $263.37 billion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 3.49 and a beta of 1.24. GE Vernova Inc. has a 52-week low of $479.04 and a 52-week high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The company’s 50 day moving average price is $1,010.48 and its 200-day moving average price is $836.38.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. The firm had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 EPS. Equities analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be given a $0.50 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is 5.83%.

Insider Buying and Selling

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by insiders.

About GE Vernova

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.