HBW Advisory Services LLC Purchases 1,854 Shares of GE Vernova Inc. $GEV

HBW Advisory Services LLC grew its position in GE Vernova Inc. (NYSE:GEV) by 204.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,761 shares of the company’s stock after buying an additional 1,854 shares during the period. HBW Advisory Services LLC’s holdings in GE Vernova were worth $1,698,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. WFA Asset Management Corp acquired a new stake in GE Vernova in the second quarter valued at approximately $29,000. 1248 Management LLC purchased a new stake in shares of GE Vernova during the 1st quarter valued at $31,000. Howard Hughes Medical Institute acquired a new stake in shares of GE Vernova in the 2nd quarter worth $31,000. Bay Harbor Wealth Management LLC grew its stake in GE Vernova by 537.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the last quarter. Finally, Monetary Management Group Inc. purchased a new position in GE Vernova during the 2nd quarter worth $32,000.

Analyst Ratings Changes

GEV has been the subject of a number of research analyst reports. UBS Group increased their price target on GE Vernova from $760.00 to $835.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Barclays upped their price objective on shares of GE Vernova from $710.00 to $720.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Melius raised shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective for the company in a research report on Monday, September 15th. Wells Fargo & Company boosted their target price 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 upgraded shares of GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 price target on the stock in a research note on Wednesday, December 10th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $691.11.

GE Vernova Trading Down 0.5%

Shares of NYSE:GEV opened at $663.65 on Friday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $731.00. The company has a market cap of $180.06 billion, a PE ratio of 108.09, a price-to-earnings-growth ratio of 5.09 and a beta of 1.71. The company’s 50 day moving average is $605.33 and its 200 day moving average is $594.41.

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

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be paid 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 is Monday, January 5th. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

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.