Elevation Point Wealth Partners LLC Purchases 1,533 Shares of GE Vernova Inc. $GEV

Elevation Point Wealth Partners LLC boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 549.5% in the third quarter, HoldingsChannel reports. The fund owned 1,812 shares of the company’s stock after purchasing an additional 1,533 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in GE Vernova were worth $1,114,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in GE Vernova during the 2nd quarter worth $1,809,220,000. Capital World Investors raised its stake in GE Vernova by 1,907.5% in the third quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock valued at $1,325,842,000 after buying an additional 2,048,792 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in GE Vernova by 273.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock worth $798,126,000 after acquiring an additional 1,104,747 shares in the last quarter. Franklin Resources Inc. boosted its holdings in GE Vernova by 170.0% in the third quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company’s stock worth $722,956,000 after acquiring an additional 740,339 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of GE Vernova by 771.3% during the second quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock worth $403,861,000 after acquiring an additional 675,629 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GEV. TD Cowen upped their price objective on shares of GE Vernova from $680.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Oppenheimer reiterated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 29th. Jefferies Financial Group reissued a “buy” rating and set a $930.00 target price on shares of GE Vernova in a research report on Thursday, January 29th. Wolfe Research raised shares of GE Vernova from a “peer perform” rating to a “buy” rating in a report on Wednesday, December 10th. Finally, Evercore lifted their price objective on shares of GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $831.29.

GE Vernova Stock Up 2.6%

GE Vernova stock opened at $825.99 on Tuesday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $894.93. The company has a market capitalization of $222.63 billion, a price-to-earnings ratio of 46.40, a price-to-earnings-growth ratio of 3.20 and a beta of 1.44. The stock has a 50-day moving average price of $762.83 and a 200 day moving average price of $665.47.

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

GE Vernova Dividend Announcement

The firm also recently disclosed 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 is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis 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.