LRI Investments LLC Has $1.69 Million Position in GE Vernova Inc. $GEV

Key Points

• LRI Investments LLC increased its stake in GE Vernova by 60.4% in the fourth quarter, ending with 2,587 shares valued at about $1.69 million.
• Several other institutional investors also sharply boosted their positions, including Capital World Investors and Jennison Associates, signaling broad institutional interest in the stock.
• GE Vernova reported strong quarterly results, with EPS of $17.44 versus the $1.95 consensus and revenue of $9.34 billion, while analysts remain mostly positive with an average Moderate Buy rating and a $1,090.76 price target.

LRI Investments LLC boosted its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 60.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,587 shares of the company's stock after purchasing an additional 974 shares during the quarter. LRI Investments LLC's holdings in GE Vernova were worth $1,691,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GEV. Capital World Investors grew its stake in GE Vernova by 1,907.5% in the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company's stock valued at $1,325,842,000 after buying an additional 2,048,792 shares during the last quarter. Franklin Resources Inc. grew its position in shares of GE Vernova by 170.0% in the third quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company's stock valued at $722,956,000 after purchasing an additional 740,339 shares during the last quarter. Jennison Associates LLC increased its stake in shares of GE Vernova by 1,300.4% in the fourth quarter. Jennison Associates LLC now owns 647,791 shares of the company's stock worth $423,377,000 after purchasing an additional 601,533 shares during the period. SG Americas Securities LLC lifted its position in shares of GE Vernova by 10,288.6% during the 4th quarter. SG Americas Securities LLC now owns 418,661 shares of the company's stock worth $273,624,000 after purchasing an additional 414,631 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in GE Vernova by 66.0% during the 2nd quarter. Raymond James Financial Inc. now owns 944,567 shares of the company's stock valued at $499,817,000 after purchasing an additional 375,677 shares during the period.

GE Vernova Trading Down 0.5%

Shares of GE Vernova stock opened at $1,040.75 on Friday. GE Vernova Inc. has a 52-week low of $387.03 and a 52-week high of $1,181.95. The firm has a market capitalization of $279.67 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 3.90 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The company's fifty day moving average price is $933.83 and its two-hundred day moving average price is $755.75.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. The business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm's revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 EPS. On average, analysts expect that GE Vernova Inc. will post 14.84 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Tuesday, March 17th. GE Vernova's dividend payout ratio is currently 5.83%.

Analyst Ratings Changes

GEV has been the topic of several recent analyst reports. Robert W. Baird lifted their price target on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Erste Group Bank upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Tuesday, March 24th. Wells Fargo & Company raised their price target on shares of GE Vernova from $831.00 to $896.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 31st. Weiss Ratings upgraded shares of GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Finally, TD Cowen upped their price objective on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,090.76.

About GE Vernova

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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