Florida Financial Advisors LLC Has $1.21 Million Stock Holdings in GE Vernova Inc. $GEV

Florida Financial Advisors LLC increased its position in GE Vernova Inc. (NYSE:GEV) by 68.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,963 shares of the company’s stock after purchasing an additional 801 shares during the quarter. Florida Financial Advisors LLC’s holdings in GE Vernova were worth $1,207,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. WFA Asset Management Corp acquired a new stake in GE Vernova in the 2nd quarter valued at approximately $29,000. Howard Hughes Medical Institute acquired a new position in GE Vernova during the second quarter worth $31,000. Bay Harbor Wealth Management LLC raised 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 worth $31,000 after acquiring an additional 43 shares in the last quarter. Monetary Management Group Inc. bought a new stake in GE Vernova during the second 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 valued at $33,000 after acquiring an additional 17 shares during the last quarter.

GE Vernova Stock Performance

NYSE:GEV opened at $801.76 on Friday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $846.00. The firm’s 50-day simple moving average is $689.84 and its 200 day simple moving average is $635.49. The firm has a market cap of $216.10 billion, a price-to-earnings ratio of 45.04, a P/E/G ratio of 3.25 and a beta of 1.67.

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, topping 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 firm had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. During the same quarter in the prior year, the business posted $1.73 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, January 5th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, January 5th. This represents a $2.00 annualized dividend and a yield of 0.2%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s payout ratio is presently 11.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GEV shares. The Goldman Sachs Group upped their target price on shares of GE Vernova from $840.00 to $925.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 target price for the company in a research note on Friday, January 30th. Barclays restated an “overweight” rating and issued a $849.00 price target on shares of GE Vernova in a research note on Monday, February 2nd. Wells Fargo & Company lifted their price objective on shares of GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Finally, Oppenheimer reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $788.24.

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.