Quantbot Technologies LP Has $6.95 Million Stock Holdings in GE Vernova Inc. $GEV

Quantbot Technologies LP lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 130.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,772 shares of the company’s stock after buying an additional 12,895 shares during the period. Quantbot Technologies LP’s holdings in GE Vernova were worth $6,952,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GEV. Brighton Jones LLC lifted its stake in GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after purchasing an additional 753 shares during the last quarter. American Assets Inc. acquired a new stake in GE Vernova in the 4th quarter valued at about $658,000. Guggenheim Capital LLC lifted its stake in GE Vernova by 63.5% in the 4th quarter. Guggenheim Capital LLC now owns 6,077 shares of the company’s stock valued at $1,999,000 after purchasing an additional 2,361 shares during the last quarter. First Trust Advisors LP lifted its stake in GE Vernova by 12.6% in the 4th quarter. First Trust Advisors LP now owns 174,149 shares of the company’s stock valued at $57,283,000 after purchasing an additional 19,531 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in GE Vernova in the 4th quarter valued at about $3,546,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Robert W. Baird raised their target price on shares of GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Barclays raised their target price on shares of GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Citigroup raised their price objective on shares of GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group raised their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Ten equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $560.21.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $624.51 on Tuesday. The company’s 50 day simple moving average is $566.43 and its 200 day simple moving average is $435.65. The stock has a market capitalization of $170.00 billion, a price-to-earnings ratio of 150.48, a price-to-earnings-growth ratio of 4.30 and a beta of 1.90. GE Vernova Inc. has a 1 year low of $173.07 and a 1 year high of $677.29.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $4.65 earnings per share. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, July 21st. GE Vernova’s dividend payout ratio (DPR) is 24.10%.

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.