Decade Renewable Partners LP Invests $3.30 Million in GE Vernova Inc. $GEV

Key Points

• Decade Renewable Partners LP invested approximately $3.30 million in GE Vernova, acquiring 10,800 shares, which now represent about 2.5% of their overall holdings.
• Analysts are optimistic about GE Vernova, with several firms raising their target prices; Goldman Sachs and Susquehanna, among others, have set targets as high as $736.00.
• GE Vernova reported strong quarterly earnings, with $1.86 earnings per share, exceeding analyst estimates, alongside a revenue increase of 11.1% year-over-year.

Decade Renewable Partners LP bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,800 shares of the company's stock, valued at approximately $3,297,000. GE Vernova comprises approximately 2.5% of Decade Renewable Partners LP's holdings, making the stock its 19th biggest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of GEV. EQ Wealth Advisors LLC acquired a new stake in GE Vernova in the 1st quarter worth about $27,000. IMA Advisory Services Inc. acquired a new stake in GE Vernova in the 1st quarter worth about $27,000. Clarity Asset Management Inc. acquired a new stake in GE Vernova in the 4th quarter worth about $28,000. Orion Capital Management LLC acquired a new stake in GE Vernova in the 4th quarter worth about $30,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its stake in GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after purchasing an additional 53 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GEV shares. The Goldman Sachs Group lifted their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Susquehanna raised their target price on shares of GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a report on Thursday, July 24th. UBS Group initiated coverage on shares of GE Vernova in a report on Monday, July 7th. They issued a "buy" rating and a $614.00 target price on the stock. BMO Capital Markets raised their target price on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Finally, Bank of America raised their target price on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Trading Down 3.0%

Shares of GE Vernova stock opened at $614.60 on Friday. The firm has a market capitalization of $167.31 billion, a PE ratio of 148.10, a price-to-earnings-growth ratio of 4.24 and a beta of 1.90. The firm's 50 day moving average is $589.73 and its 200 day moving average is $450.37. GE Vernova Inc. has a 1 year low of $185.35 and a 1 year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's payout ratio is 24.10%.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.15% of the company's stock.

GE Vernova Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.