HORAN Wealth LLC Invests $1.51 Million in GE Vernova Inc. $GEV

HORAN Wealth LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,451 shares of the company’s stock, valued at approximately $1,507,000.

Other large investors also recently bought and sold shares of the company. WFA Asset Management Corp purchased a new position in shares of GE Vernova during the 2nd quarter valued at approximately $29,000. Howard Hughes Medical Institute acquired a new stake in GE Vernova during the second quarter valued at $31,000. Bay Harbor Wealth Management LLC increased its holdings in GE Vernova by 537.5% in 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 in the last quarter. Monetary Management Group Inc. acquired a new position in shares of GE Vernova in the second quarter worth about $32,000. Finally, Elevation Wealth Partners LLC boosted its stake in shares of GE Vernova by 47.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares in the last quarter.

GE Vernova Trading Down 4.5%

GEV opened at $745.37 on Thursday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $795.50. The firm has a market capitalization of $200.90 billion, a PE ratio of 41.87, a PEG ratio of 3.14 and a beta of 1.67. The firm’s 50-day moving average price is $663.44 and its 200 day moving average price is $626.75.

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

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 5th were given a dividend of $0.50 per share. The ex-dividend date was Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is 11.24%.

Key GE Vernova News

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: Baird upgraded GEV from Hold to Strong-Buy, saying overcapacity concerns look less likely — that upgrade is driving bullish analyst sentiment and likely lifted the stock. Baird upgrades GE Vernova
• Positive Sentiment: Market reaction: coverage notes GEV shares were trading notably higher following the Baird upgrade, indicating the upgrade had immediate impact on investor demand. GE Vernova Trading Higher After Upgrade
• Positive Sentiment: Business momentum: analysts and media point to rising data-center orders and a growing backlog (reported backlog ~$150B) as drivers of longer-term revenue visibility and demand for GEV’s power equipment. Fool: Energy Stock Momentum
• Neutral Sentiment: GEV completed a $2.6B multi?tranche senior notes offering (various coupons) and says net proceeds will be used for general corporate purposes, including financing the acquisition of the remaining 50% of Prolec GE — this funds a strategic bolt-on but increases debt levels. BusinessWire: Senior Notes Offering

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. UBS Group reaffirmed a “buy” rating on shares of GE Vernova in a report on Thursday, January 29th. Wolfe Research raised GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Barclays reissued an “overweight” rating and issued a $849.00 price target on shares of GE Vernova in a research note on Monday. Susquehanna increased their price objective on shares of GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a report on Thursday, January 29th. Finally, Morgan Stanley reissued an “overweight” rating and set a $817.00 target price on shares of GE Vernova in a research note on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $763.19.

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.