Prevail Innovative Wealth Advisors LLC Purchases New Shares in GE Vernova Inc. $GEV

Prevail Innovative Wealth Advisors LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,917 shares of the company’s stock, valued at approximately $5,483,000. GE Vernova accounts for 1.1% of Prevail Innovative Wealth Advisors LLC’s investment portfolio, making the stock its 22nd largest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of GEV. Jackson Grant Investment Advisers Inc. raised its holdings in shares of 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 buying an additional 31 shares during the last quarter. Howard Hughes Medical Institute acquired a new stake in shares of GE Vernova during the second quarter worth about $31,000. Bay Harbor Wealth Management LLC grew its holdings in shares of 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 buying an additional 43 shares during the last quarter. Monetary Management Group Inc. purchased a new position in shares of GE Vernova during the second quarter worth about $32,000. Finally, Elevation Wealth Partners LLC increased its position in GE Vernova by 47.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after acquiring an additional 17 shares during the period.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GEV shares. Evercore increased their price target on GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. Bank of America boosted their price target on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Wolfe Research raised shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Robert W. Baird set a $923.00 target price on GE Vernova and gave the company an “outperform” rating in a report on Wednesday, February 4th. Finally, Erste Group Bank assumed coverage on shares of GE Vernova in a research note on Thursday. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $805.25.

GE Vernova Trading Down 3.1%

GE Vernova stock opened at $790.00 on Friday. The stock has a market cap of $212.93 billion, a P/E 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. The stock has a 50 day moving average of $743.08 and a 200-day moving average of $656.12.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. During the same period last year, the firm earned $1.73 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. GE Vernova’s dividend payout ratio is currently 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.