18,975 Shares in GE Vernova Inc. $GEV Purchased by Oak Ridge Investments LLC

Key Points

• Oak Ridge Investments LLC opened a new position in GE Vernova (NYSE:GEV), buying 18,975 shares worth about $12.4 million, which represents roughly 0.8% of the fund's holdings and is its 24th largest position.
• GE Vernova reported a quarterly earnings beat with EPS $13.39 vs. $2.99 expected and revenue of $10.96 billion versus $10.21 billion, delivering a 12.83% net margin and 46.91% return on equity.
• The company announced a quarterly dividend of $0.50 (annualized $2.00, yield 0.2%, ex-dividend March 17) and holds a MarketBeat consensus rating of Buy with an average target price of $889.30.

Oak Ridge Investments LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,975 shares of the company's stock, valued at approximately $12,401,000. GE Vernova makes up about 0.8% of Oak Ridge Investments LLC's holdings, making the stock its 24th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. boosted its holdings in GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company's stock worth $25,000 after buying an additional 31 shares in the last quarter. Wealth Watch Advisors INC purchased a new stake in GE Vernova during the third quarter worth about $25,000. ORG Wealth Partners LLC boosted its holdings in GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock worth $27,000 after buying an additional 29 shares in the last quarter. Bay Harbor Wealth Management LLC boosted its holdings in GE Vernova by 537.5% during the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company's stock worth $31,000 after buying an additional 43 shares in the last quarter. Finally, Monetary Management Group Inc. purchased a new stake in GE Vernova during the second quarter worth about $32,000.

GE Vernova Trading Up 0.1%

Shares of GEV opened at $992.16 on Tuesday. The stock has a market cap of $266.75 billion, a P/E ratio of 55.74, a PEG ratio of 3.90 and a beta of 1.43. The company has a 50-day moving average of $851.93 and a two-hundred day moving average of $705.30. GE Vernova Inc. has a 12-month low of $306.21 and a 12-month high of $1,007.38.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.99 by $10.40. The company had revenue of $10.96 billion during the quarter, compared to analysts' expectations of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.73 earnings per share. As a group, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova's payout ratio is currently 11.24%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Mizuho set a $714.00 price objective on shares of GE Vernova in a report on Tuesday, February 3rd. Erste Group Bank upgraded shares of GE Vernova to a "strong-buy" rating in a research report on Tuesday, March 24th. Citigroup lifted their target price on shares of GE Vernova from $779.00 to $1,110.00 and gave the stock a "neutral" rating in a research report on Monday. Royal Bank Of Canada lifted their target price on shares of GE Vernova from $761.00 to $800.00 and gave the stock an "outperform" rating in a research report on Friday, January 30th. Finally, Evercore lifted their target price on shares of GE Vernova from $860.00 to $905.00 and gave the stock an "outperform" rating in a research report on Thursday, January 29th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $889.30.

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.

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