Parallel Advisors LLC Grows Stock Holdings in GE Vernova Inc. $GEV

Key Points

• Parallel Advisors LLC increased its stake in GE Vernova (GEV) by 19.8% in Q3 to 9,906 shares, valued at about $6.09 million after buying an additional 1,635 shares.
• Several large institutions—including Norges Bank, Arrowstreet, Qube Research, Invesco and Raymond James—also meaningfully raised positions, while the stock recently traded near $790 and the company has a market capitalization of about $212.9 billion.
• GE Vernova reported a strong quarter with $13.39 EPS (versus $2.99 consensus) and $10.96B revenue, announced a $0.50 quarterly dividend (annual $2.00, 0.3% yield), and carries a “Moderate Buy” analyst consensus with an average price target of $805.25.

Parallel Advisors LLC grew its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 19.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,906 shares of the company's stock after buying an additional 1,635 shares during the period. Parallel Advisors LLC's holdings in GE Vernova were worth $6,091,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank bought a new position in shares of GE Vernova in the 2nd quarter valued at about $1,809,220,000. Arrowstreet Capital Limited Partnership grew its position in GE Vernova by 273.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company's stock worth $798,126,000 after acquiring an additional 1,104,747 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in GE Vernova by 771.3% during the second quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company's stock worth $403,861,000 after acquiring an additional 675,629 shares during the last quarter. Invesco Ltd. raised its position in GE Vernova by 26.3% during the second quarter. Invesco Ltd. now owns 2,217,257 shares of the company's stock valued at $1,173,262,000 after purchasing an additional 462,038 shares during the period. Finally, Raymond James Financial Inc. raised its position in GE Vernova by 66.0% during the second 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.

Wall Street Analyst Weigh In

GEV has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their target price on GE Vernova from $840.00 to $925.00 and gave the stock a "buy" rating in a report on Thursday, January 29th. Glj Research raised their price target on GE Vernova from $758.00 to $1,087.00 and gave the stock a "buy" rating in a research report on Monday, January 12th. Mizuho set a $714.00 price objective on shares of GE Vernova in a research note on Tuesday, February 3rd. William Blair reissued an "outperform" rating on shares of GE Vernova in a research note on Wednesday, December 10th. Finally, Weiss Ratings upgraded shares of GE Vernova from a "hold (c)" rating to a "buy (b-)" rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $805.25.

GE Vernova Stock Down 3.1%

Shares of GE Vernova stock opened at $790.00 on Monday. The stock's fifty day moving average is $743.08 and its two-hundred day moving average is $656.48. The company has a market capitalization of $212.93 billion, a PE ratio of 44.38, a price-to-earnings-growth ratio of 3.14 and a beta of 1.45. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $894.93.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping the consensus estimate of $2.99 by $10.40. The business had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $1.73 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova's payout ratio is 11.24%.

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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