GeoWealth Management LLC Raises Holdings in GE Vernova Inc. (NYSE:GEV)

GeoWealth Management LLC raised its stake in GE Vernova Inc. (NYSE:GEV) by 22.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,448 shares of the company’s stock after purchasing an additional 448 shares during the period. GeoWealth Management LLC’s holdings in GE Vernova were worth $805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. MRP Capital Investments LLC acquired a new stake in GE Vernova in the fourth quarter valued at approximately $25,000. Cedar Mountain Advisors LLC increased its position in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares during the last quarter. Fairway Wealth LLC lifted its position in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC grew its stake in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares in the last quarter. Finally, Pinpoint Asset Management Ltd acquired a new position in shares of GE Vernova during the fourth quarter worth $30,000.

GE Vernova Trading Down 1.6 %

Shares of GEV opened at $322.81 on Friday. The firm’s 50-day moving average is $321.67 and its two-hundred day moving average is $330.15. GE Vernova Inc. has a twelve month low of $132.11 and a twelve month high of $447.50. The firm has a market capitalization of $88.24 billion and a P/E ratio of 58.06.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. Analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. GE Vernova’s dividend payout ratio is presently 17.99%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Guggenheim reaffirmed a “buy” rating and set a $380.00 price target on shares of GE Vernova in a report on Thursday. New Street Research set a $380.00 target price on GE Vernova in a research note on Wednesday, March 5th. Barclays dropped their price target on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Jefferies Financial Group boosted their price objective on shares of GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Finally, Susquehanna started coverage on shares of GE Vernova in a research report on Wednesday, April 2nd. They issued a “positive” rating and a $370.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy 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 $357.13.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.