Harvest Portfolios Group Inc. Takes $2.23 Million Position in GE Vernova Inc. $GEV

Harvest Portfolios Group Inc. purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,631 shares of the company’s stock, valued at approximately $2,233,000.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings in GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after buying an additional 753 shares during the last quarter. Schnieders Capital Management LLC. increased its holdings in shares of GE Vernova by 1.7% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after acquiring an additional 26 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of GE Vernova by 17.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 981 shares of the company’s stock valued at $519,000 after acquiring an additional 145 shares in the last quarter. Keybank National Association OH raised its position in shares of GE Vernova by 9.0% during the 2nd quarter. Keybank National Association OH now owns 11,575 shares of the company’s stock valued at $6,125,000 after acquiring an additional 960 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in GE Vernova by 17.7% during the second quarter. Assetmark Inc. now owns 16,605 shares of the company’s stock worth $8,786,000 after purchasing an additional 2,501 shares during the last quarter.

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent research reports. Barclays reiterated an “overweight” rating and set a $849.00 target price on shares of GE Vernova in a research note on Monday, February 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $785.00 price target on shares of GE Vernova in a report on Thursday, January 29th. Royal Bank Of Canada boosted their price objective on shares of GE Vernova from $761.00 to $800.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Finally, Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 target price on the stock in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Trading Down 0.4%

Shares of NYSE:GEV opened at $872.64 on Friday. The firm’s 50 day moving average is $726.02 and its two-hundred day moving average is $648.68. The firm has a market capitalization of $235.20 billion, a P/E ratio of 49.02, a PEG ratio of 3.48 and a beta of 1.67. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $894.93.

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

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be paid a $0.50 dividend. 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 is presently 11.24%.

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.