GE Vernova Inc. $GEV Shares Bought by HBW Advisory Services LLC

HBW Advisory Services LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 204.4% during the third quarter, Holdings Channel.com reports. The firm owned 2,761 shares of the company’s stock after acquiring an additional 1,854 shares during the period. HBW Advisory Services LLC’s holdings in GE Vernova were worth $1,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GEV. Bay Harbor Wealth Management LLC grew its position in GE Vernova by 537.5% during the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the period. Elevation Wealth Partners LLC raised its position in shares of GE Vernova by 47.2% in the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares during the period. WFA Asset Management Corp purchased a new stake in shares of GE Vernova during the 2nd quarter worth about $29,000. Howard Hughes Medical Institute acquired a new stake in shares of GE Vernova during the 2nd quarter valued at about $31,000. Finally, Monetary Management Group Inc. purchased a new position in shares of GE Vernova in the 2nd quarter valued at about $32,000.

GE Vernova Stock Performance

Shares of GEV stock opened at $663.65 on Friday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $731.00. The stock’s fifty day moving average is $605.33 and its two-hundred day moving average is $594.41. The firm has a market capitalization of $180.06 billion, a P/E ratio of 108.09, a PEG ratio of 5.09 and a beta of 1.71.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The business had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. GE Vernova’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.35) earnings per share. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be paid a $0.50 dividend. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. GE Vernova’s dividend payout ratio is 16.29%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. UBS Group increased their price target on GE Vernova from $760.00 to $835.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Citigroup reduced their target price on GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $761.00 price target on shares of GE Vernova in a research note on Monday, December 22nd. Rothschild & Co Redburn reissued a “sell” rating and issued a $475.00 price target on shares of GE Vernova in a report on Wednesday, October 15th. Finally, BMO Capital Markets increased their price objective on shares of GE Vernova from $710.00 to $780.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $691.11.

GE Vernova Company 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.