J.Safra Asset Management Corp Purchases New Holdings in GE Vernova Inc. $GEV

J.Safra Asset Management Corp acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 1,273 shares of the company’s stock, valued at approximately $783,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Synergy Asset Management LLC boosted its position in GE Vernova by 300.0% in the third quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock worth $1,078,000 after purchasing an additional 1,413 shares during the last quarter. Kercheville Advisors LLC increased its holdings in GE Vernova by 238.3% during the third quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock valued at $3,016,000 after buying an additional 3,455 shares during the last quarter. Dupree Financial Group LLC purchased a new stake in GE Vernova during the second quarter valued at approximately $253,000. Nordea Investment Management AB boosted its stake in shares of GE Vernova by 136.1% during the 3rd quarter. Nordea Investment Management AB now owns 561,213 shares of the company’s stock worth $341,038,000 after acquiring an additional 323,481 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of GE Vernova by 18.8% during the 2nd quarter. International Assets Investment Management LLC now owns 3,903 shares of the company’s stock worth $2,065,000 after acquiring an additional 619 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GEV shares. Glj Research lifted their target price on GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday, October 8th. Wells Fargo & Company boosted their price objective on GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Mizuho decreased their target price on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Finally, Jefferies Financial Group set a $830.00 price target on shares of GE Vernova in a research report on Monday, December 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $703.04.

GE Vernova Price Performance

Shares of GEV opened at $681.78 on Friday. The firm has a market cap of $184.98 billion, a P/E ratio of 111.04, a price-to-earnings-growth ratio of 2.85 and a beta of 1.67. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $731.00. The company has a 50 day simple moving average of $629.47 and a two-hundred day simple moving average of $611.97.

GE Vernova (NYSE:GEV) last issued its 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 company 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%.GE Vernova’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.35) EPS. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

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

GE Vernova 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.