Montrusco Bolton Investments Inc. increased its position in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 15.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 87,243 shares of the company’s stock after buying an additional 11,715 shares during the period. GE Vernova makes up about 1.3% of Montrusco Bolton Investments Inc.’s investment portfolio, making the stock its 23rd biggest position. Montrusco Bolton Investments Inc.’s holdings in GE Vernova were worth $82,924,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cascade Investment Group Inc. acquired a new position in shares of GE Vernova in the third quarter worth about $229,000. First County Bank CT purchased a new stake in GE Vernova during the 3rd quarter worth approximately $259,000. Ring Mountain Capital LLC raised its position in shares of GE Vernova by 9.5% in the 3rd quarter. Ring Mountain Capital LLC now owns 683 shares of the company’s stock valued at $649,000 after purchasing an additional 59 shares in the last quarter. Steel Grove Capital Advisors LLC acquired a new position in shares of GE Vernova in the 3rd quarter valued at approximately $560,000. Finally, McCollum Christoferson Group LLC boosted its stake in shares of GE Vernova by 28.0% during the 3rd quarter. McCollum Christoferson Group LLC now owns 302 shares of the company’s stock valued at $287,000 after buying an additional 66 shares during the last quarter.
Analysts Set New Price Targets
A number of research firms have recently weighed in on GEV. TD Cowen raised their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Glj Research initiated coverage on shares of GE Vernova in a report on Monday, September 14th. They set a “sell” rating and a $470.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of GE Vernova from $1,330.00 to $1,150.00 and set an “overweight” rating for the company in a report on Friday. The Goldman Sachs Group raised shares of GE Vernova from a “buy” rating to a “market outperform” rating in a research report on Monday, September 14th. Finally, Morgan Stanley lowered shares of GE Vernova from an “overweight” rating to an “underweight” rating in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,165.87.
GE Vernova Stock Performance
Shares of GEV traded up $5.92 during mid-day trading on Tuesday, hitting $1,002.72. The stock had a trading volume of 1,898,048 shares, compared to its average volume of 2,628,845. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The company has a market cap of $267.05 billion, a PE ratio of 28.70, a PEG ratio of 3.48 and a beta of 1.14. The company’s fifty day simple moving average is $967.54 and its two-hundred day simple moving average is $1,000.09.
GE Vernova (NYSE:GEV – Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business’s revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.86 earnings per share. On average, equities analysts expect that GE Vernova Inc. will post 15.03 earnings per share for the current year.
GE Vernova Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, October 27th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, October 27th. GE Vernova’s payout ratio is currently 5.72%.
About GE Vernova
GE Vernova Inc (NYSE: GEV) is an energy technology company formed through the separation of General Electric’s energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.
GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.
The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.
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