Navellier & Associates Inc. Makes New Investment in GE Vernova Inc. $GEV

Navellier & Associates Inc. acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 7,503 shares of the company’s stock, valued at approximately $4,614,000.

A number of other hedge funds have also added to or reduced their stakes in GEV. Good Life Advisors LLC boosted its position in shares of GE Vernova by 1.0% in the second quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock valued at $875,000 after acquiring an additional 16 shares during the period. Bell Investment Advisors Inc lifted its stake in GE Vernova by 6.7% in the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock worth $135,000 after purchasing an additional 16 shares in the last quarter. Northwest Wealth Management LLC boosted its holdings in GE Vernova by 3.6% in the 3rd quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock valued at $286,000 after purchasing an additional 16 shares during the period. AMG National Trust Bank grew its position in shares of GE Vernova by 1.5% during the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after purchasing an additional 17 shares in the last quarter. Finally, Graney & King LLC grew its position in shares of GE Vernova by 2.4% during the 2nd quarter. Graney & King LLC now owns 722 shares of the company’s stock valued at $382,000 after purchasing an additional 17 shares in the last quarter.

GE Vernova Stock Performance

Shares of GEV opened at $801.25 on Tuesday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $814.86. The firm has a market cap of $215.96 billion, a price-to-earnings ratio of 45.01, a PEG ratio of 3.10 and a beta of 1.67. The firm has a 50 day moving average price of $674.49 and a 200-day moving average price of $630.80.

GE Vernova (NYSE:GEV) last posted its quarterly 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. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. During the same period in the previous year, the firm posted $1.73 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, January 5th were given a $0.50 dividend. The ex-dividend date was Monday, January 5th. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is presently 11.24%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Rothschild & Co Redburn set a $475.00 price objective on GE Vernova in a research report on Wednesday, October 15th. Barclays reiterated an “overweight” rating and set a $849.00 price target on shares of GE Vernova in a research report on Monday, February 2nd. Citigroup raised their target price on shares of GE Vernova from $708.00 to $779.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Susquehanna boosted their price target on shares of GE Vernova from $800.00 to $820.00 and gave the stock a “positive” rating in a research note on Thursday, January 29th. Finally, Glj Research increased their price target on shares of GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $788.24.

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.