SPX Gestao de Recursos Ltda Has $17.65 Million Stake in GE Vernova Inc. $GEV

Key Points

• SPX Gestao de Recursos Ltda increased its stake in GE Vernova to 28,700 shares (a 187% rise), holding $17.65 million worth of stock and making GEV 1.5% of its portfolio (its 19th largest position).
• GE Vernova posted a major beat for the quarter with $13.39 EPS versus $2.99 expected and $10.96 billion in revenue, and the company announced a quarterly dividend of $0.50 (annualized $2.00, ~0.3% yield).
• Analysts are largely positive: the consensus is a "Moderate Buy" with an average target of $805.25, and several firms recently raised price targets (e.g., GLJ to $1,087 and Goldman to $925).

SPX Gestao de Recursos Ltda raised its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 187.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,700 shares of the company's stock after buying an additional 18,700 shares during the quarter. GE Vernova comprises 1.5% of SPX Gestao de Recursos Ltda's portfolio, making the stock its 19th biggest position. SPX Gestao de Recursos Ltda's holdings in GE Vernova were worth $17,648,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of GEV. Jackson Grant Investment Advisers Inc. increased its stake in GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company's stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. Howard Hughes Medical Institute acquired a new stake in GE Vernova during the 2nd quarter worth $31,000. Bay Harbor Wealth Management LLC lifted 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 acquiring an additional 43 shares in the last quarter. Monetary Management Group Inc. acquired a new position in GE Vernova in the second quarter valued at about $32,000. Finally, Elevation Wealth Partners LLC increased its holdings in shares of GE Vernova by 47.2% in the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company's stock worth $33,000 after acquiring an additional 17 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Glj Research boosted their price objective on GE Vernova from $758.00 to $1,087.00 and gave the company a "buy" rating in a research report on Monday, January 12th. Erste Group Bank began coverage on shares of GE Vernova in a report on Thursday. They set a "buy" rating on the stock. Wall Street Zen raised shares of GE Vernova from a "hold" rating to a "buy" rating in a research note on Saturday, January 31st. BMO Capital Markets reiterated an "outperform" rating and set a $785.00 target price on shares of GE Vernova in a report on Thursday, January 29th. Finally, The Goldman Sachs Group boosted their price target on GE Vernova from $840.00 to $925.00 and gave the company a "buy" rating in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $805.25.

GE Vernova Trading Down 3.1%

Shares of GEV stock opened at $790.00 on Friday. The firm's fifty day moving average price is $743.08 and its two-hundred day moving average price is $655.74. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $894.93. The firm has a market capitalization of $212.93 billion, a P/E ratio of 44.38, a PEG ratio of 3.24 and a beta of 1.45.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 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 the consensus estimate of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The company's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.73 EPS. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, March 17th. GE Vernova's dividend payout ratio (DPR) is currently 11.24%.

GE Vernova 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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