Moseley Investment Management Inc. Acquires 926 Shares of GE Vernova Inc. $GEV

Moseley Investment Management Inc. raised its holdings in GE Vernova Inc. (NYSE:GEV) by 66.6% during the third quarter, Holdings Channel.com reports. The fund owned 2,316 shares of the company’s stock after purchasing an additional 926 shares during the period. Moseley Investment Management Inc.’s holdings in GE Vernova were worth $1,424,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GEV. Synergy Asset Management LLC boosted its holdings in shares of GE Vernova by 300.0% during the third quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock worth $1,078,000 after acquiring an additional 1,413 shares during the period. Pines Wealth Management LLC acquired a new stake in GE Vernova during the 2nd quarter worth approximately $408,000. Kercheville Advisors LLC lifted its holdings in GE Vernova by 238.3% during the 3rd quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock worth $3,016,000 after purchasing an additional 3,455 shares during the last quarter. Dupree Financial Group LLC bought a new stake in GE Vernova in the 2nd quarter valued at $253,000. Finally, International Assets Investment Management LLC boosted its stake in GE Vernova by 18.8% in the 2nd quarter. International Assets Investment Management LLC now owns 3,903 shares of the company’s stock valued at $2,065,000 after purchasing an additional 619 shares during the period.

GE Vernova Stock Up 1.9%

Shares of GE Vernova stock opened at $651.64 on Wednesday. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $731.00. The company has a market capitalization of $176.80 billion, a price-to-earnings ratio of 106.13, a PEG ratio of 2.68 and a beta of 1.67. The firm’s 50-day moving average price is $623.81 and its two-hundred day moving average price is $609.71.

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

GE Vernova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio (DPR) is 32.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GEV shares. The Goldman Sachs Group lifted their target price on GE Vernova from $735.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Wolfe Research raised shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research report on Wednesday, December 10th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Oppenheimer upgraded shares of GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 target price on the stock in a research report on Wednesday, December 10th. Finally, Bank of America raised their target price on shares of GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $703.04.

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.