Gerber Kawasaki Wealth & Investment Management Raises Stock Position in GE Vernova Inc. $GEV

Gerber Kawasaki Wealth & Investment Management lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 7.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,482 shares of the company’s stock after buying an additional 1,118 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in GE Vernova were worth $9,520,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in GE Vernova in the second quarter valued at about $1,809,220,000. Arrowstreet Capital Limited Partnership boosted its position in shares of 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 buying an additional 1,104,747 shares during the period. Qube Research & Technologies Ltd boosted its position in shares of GE Vernova by 771.3% in the second quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock worth $403,861,000 after buying an additional 675,629 shares during the period. Invesco Ltd. grew its stake in shares of GE Vernova by 26.3% in the second quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock valued at $1,173,262,000 after buying an additional 462,038 shares in the last quarter. Finally, Raymond James Financial Inc. grew its stake in shares of GE Vernova by 66.0% in the second quarter. Raymond James Financial Inc. now owns 944,567 shares of the company’s stock valued at $499,817,000 after buying an additional 375,677 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. UBS Group reissued a “buy” rating on shares of GE Vernova in a research report on Thursday, January 29th. Weiss Ratings raised shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Wolfe Research upgraded shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. TD Cowen boosted their target price on shares of GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Finally, Bank of America upped their target price on shares of GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $805.25.

GE Vernova Stock Down 3.1%

GEV stock opened at $790.00 on Monday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $894.93. The stock’s 50 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 P/E/G ratio of 3.14 and a beta of 1.45.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating 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 company had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. During the same period in the prior year, the company posted $1.73 EPS. GE Vernova’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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