Platform Technology Partners Decreases Position in GE Vernova Inc. $GEV

Platform Technology Partners trimmed its stake in GE Vernova Inc. (NYSE:GEV) by 43.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,551 shares of the company’s stock after selling 1,179 shares during the period. Platform Technology Partners’ holdings in GE Vernova were worth $954,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in GE Vernova by 1.1% in the second quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock worth $13,051,258,000 after buying an additional 271,958 shares during the last quarter. State Street Corp raised its stake in shares of GE Vernova by 1.9% in the second quarter. State Street Corp now owns 11,097,778 shares of the company’s stock valued at $5,872,389,000 after acquiring an additional 206,650 shares during the period. Geode Capital Management LLC raised its stake in shares of GE Vernova by 2.2% in 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 stake in shares of GE Vernova in the 2nd quarter worth about $1,809,220,000. Finally, Invesco Ltd. boosted its stake in shares of GE Vernova by 26.3% during the 2nd quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock worth $1,173,262,000 after purchasing an additional 462,038 shares during the period.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. Robert W. Baird reaffirmed a “neutral” rating and set a $649.00 target price (down previously from $816.00) on shares of GE Vernova in a research note on Friday, January 9th. Citigroup increased their price target on GE Vernova from $658.00 to $708.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. Baird R W cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, January 9th. Finally, Wells Fargo & Company upped their price objective on GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average price target of $703.04.

GE Vernova Price Performance

NYSE:GEV opened at $681.78 on Tuesday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $731.00. The company has a 50-day moving average of $631.50 and a 200 day moving average of $613.89. The firm has a market cap of $184.98 billion, a PE ratio of 111.04, a price-to-earnings-growth ratio of 2.85 and a beta of 1.67.

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 net margin of 4.52% and a return on equity of 17.07%. The business had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the prior year, the firm posted ($0.35) EPS. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS 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. Shareholders of record on Monday, January 5th will be issued 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 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio (DPR) is currently 32.57%.

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.