Inspire Investing LLC Raises Stock Holdings in GE Vernova Inc. $GEV

Inspire Investing LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 32.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,316 shares of the company’s stock after acquiring an additional 1,781 shares during the period. Inspire Investing LLC’s holdings in GE Vernova were worth $4,499,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. WFA Asset Management Corp bought a new stake in shares of GE Vernova in the 2nd quarter worth approximately $29,000. 1248 Management LLC purchased a new position in GE Vernova during the first quarter valued at $31,000. Howard Hughes Medical Institute bought a new stake in GE Vernova in the second quarter worth $31,000. Bay Harbor Wealth Management LLC grew its stake in shares of GE Vernova by 537.5% in 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 during the last quarter. Finally, Monetary Management Group Inc. bought a new position in shares of GE Vernova during the second quarter valued at $32,000.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $666.81 on Thursday. The stock’s 50-day simple moving average is $602.75 and its two-hundred day simple moving average is $592.62. The stock has a market capitalization of $180.92 billion, a price-to-earnings ratio of 108.60, a PEG ratio of 5.04 and a beta of 1.71. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $731.00.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The business had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.35) EPS. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s payout ratio is presently 32.57%.

Analyst Upgrades and Downgrades

Several analysts recently commented on GEV shares. Susquehanna increased their price objective on shares of GE Vernova from $750.00 to $775.00 and gave the company a “positive” rating in a research report on Wednesday, December 10th. Melius Research set a $740.00 target price on shares of GE Vernova and gave the stock a “buy” rating in a research note on Monday, September 15th. Jefferies Financial Group set a $830.00 price target on shares of GE Vernova in a research report on Monday. Seaport Res Ptn cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Finally, Bank of America lifted their target price on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $691.11.

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.