Vest Financial LLC Boosts Stock Position in GE Vernova Inc. $GEV

Vest Financial LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 100.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,235 shares of the company’s stock after buying an additional 21,138 shares during the period. Vest Financial LLC’s holdings in GE Vernova were worth $25,970,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GEV. WFA Asset Management Corp purchased a new position in shares of GE Vernova during the second quarter worth approximately $29,000. Howard Hughes Medical Institute bought a new position in shares of GE Vernova during the 2nd quarter valued at $31,000. Bay Harbor Wealth Management LLC grew its holdings in shares of GE Vernova by 537.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Monetary Management Group Inc. purchased a new position in GE Vernova in the 2nd quarter worth $32,000. Finally, Elevation Wealth Partners LLC lifted its stake in 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 purchasing an additional 17 shares during the last quarter.

GE Vernova Stock Down 2.5%

Shares of GE Vernova stock opened at $667.94 on Thursday. The business has a 50 day moving average of $635.53 and a 200 day moving average of $615.43. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $731.00. The company has a market cap of $181.23 billion, a PE ratio of 108.79, a P/E/G ratio of 2.87 and a beta of 1.67.

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

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be given a dividend of $0.50 per share. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio is presently 32.57%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Rothschild & Co Redburn reaffirmed a “sell” rating and set a $475.00 price objective on shares of GE Vernova in a research note on Wednesday, October 15th. Citigroup lifted their price target on GE Vernova from $658.00 to $708.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Morgan Stanley raised their target price on shares of GE Vernova from $710.00 to $822.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Finally, Wells Fargo & Company upped their price target on shares of GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $701.62.

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.