Rakuten Investment Management Inc. Makes New Investment in GE Vernova Inc. $GEV

Rakuten Investment Management Inc. purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 30,250 shares of the company’s stock, valued at approximately $18,601,000.

A number of other hedge funds have also modified their holdings of GEV. WFA Asset Management Corp acquired a new position in GE Vernova in the second quarter valued at about $29,000. Howard Hughes Medical Institute acquired a new stake in shares of GE Vernova during the second quarter valued at about $31,000. Bay Harbor Wealth Management LLC lifted its holdings in shares of GE Vernova by 537.5% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the last quarter. Monetary Management Group Inc. purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $32,000. Finally, Elevation Wealth Partners LLC increased its holdings in GE Vernova by 47.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after purchasing an additional 17 shares during the last quarter.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $684.14 on Wednesday. The business has a 50-day simple moving average of $633.67 and a 200-day simple moving average of $615.06. The company has a market cap of $185.62 billion, a PE ratio of 111.42, a P/E/G ratio of 2.85 and a beta of 1.67. GE Vernova Inc. has a one year low of $252.25 and a one year high of $731.00.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same quarter last year, the firm earned ($0.35) EPS. The company’s revenue was up 11.8% on a year-over-year basis. 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%.

Analysts Set New Price Targets

GEV has been the subject of several research analyst reports. BMO Capital Markets raised their price target on GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. TD Cowen decreased their target price on GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. The Goldman Sachs Group raised their target price on GE Vernova from $735.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Rothschild & Co Redburn reiterated a “sell” rating and set a $475.00 price target on shares of GE Vernova in a research note on Wednesday, October 15th. Finally, UBS Group lifted 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. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target 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.