PFG Advisors Purchases 836 Shares of GE Vernova Inc. $GEV

PFG Advisors raised its position in GE Vernova Inc. (NYSE:GEV) by 15.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 6,132 shares of the company’s stock after acquiring an additional 836 shares during the period. PFG Advisors’ holdings in GE Vernova were worth $3,770,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Prevail Innovative Wealth Advisors LLC acquired a new position in shares of GE Vernova during the third quarter worth approximately $5,483,000. Rathbones Group PLC grew its position in GE Vernova by 1.0% in the 3rd quarter. Rathbones Group PLC now owns 59,365 shares of the company’s stock valued at $36,504,000 after purchasing an additional 587 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in GE Vernova in the 3rd quarter valued at $259,000. Vinva Investment Management Ltd increased its stake in GE Vernova by 19.7% during the 3rd quarter. Vinva Investment Management Ltd now owns 24,609 shares of the company’s stock valued at $14,825,000 after purchasing an additional 4,052 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in GE Vernova by 19.8% during the third quarter. Parallel Advisors LLC now owns 9,906 shares of the company’s stock worth $6,091,000 after buying an additional 1,635 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Robert W. Baird set a $923.00 price objective on shares of GE Vernova and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Oppenheimer restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 29th. UBS Group reaffirmed a “buy” rating on shares of GE Vernova in a research report on Thursday, January 29th. Jefferies Financial Group reiterated a “buy” rating and set a $930.00 price target on shares of GE Vernova in a research note on Thursday, January 29th. Finally, Bank of America boosted their price objective on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $831.29.

GE Vernova Price Performance

Shares of GEV stock opened at $829.66 on Tuesday. The firm has a 50-day moving average of $746.41 and a 200-day moving average of $658.06. The company has a market cap of $223.62 billion, a P/E ratio of 46.61, a P/E/G ratio of 3.14 and a beta of 1.44. GE Vernova Inc. has a one year low of $252.25 and a one year high of $894.93.

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

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. 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.