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GE Vernova’s stock rose after a major stake increase and strong revenue growth, despite slightly missed earnings.
GE Vernova Inc. (GEV) saw its stock rise to $658.03 on Friday, boosted by a 36.6% stake increase from Jackson Square Capital LLC, which now holds 10,509 shares worth $6.46 million.
The company reported Q3 earnings of $1.64 per share, slightly below estimates, but revenue hit $9.97 billion, up 11.8% year-over-year.
GE Vernova doubled its quarterly dividend to $0.50, resulting in a $2.00 annual payout with a 0.3% yield.
Analysts maintain a “Moderate Buy” rating with a $690.56 average price target.
The stock, part of General Electric’s energy spin-off, operates in power generation, renewables, and grid technologies.
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Las acciones de GE Vernova aumentaron después de un importante aumento de participación y un fuerte crecimiento de los ingresos, a pesar de una ligera pérdida de ganancias.