Vest Financial LLC Boosts Holdings in GE Vernova Inc. $GEV

Vest Financial LLC boosted its stake in GE Vernova Inc. (NYSE:GEV) by 100.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,235 shares of the company’s stock after acquiring an additional 21,138 shares during the period. Vest Financial LLC’s holdings in GE Vernova were worth $25,970,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bay Harbor Wealth Management LLC lifted its stake in GE Vernova by 537.5% in the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Elevation Wealth Partners LLC raised its stake in shares of GE Vernova by 47.2% in the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after buying an additional 17 shares during the period. WFA Asset Management Corp purchased a new position in shares of GE Vernova during the 2nd quarter valued at $29,000. Howard Hughes Medical Institute bought a new position in shares of GE Vernova during the 2nd quarter worth $31,000. Finally, Monetary Management Group Inc. purchased a new stake in GE Vernova in the 2nd quarter worth about $32,000.

GE Vernova Price Performance

Shares of GEV opened at $667.94 on Thursday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $731.00. The company has a market capitalization of $181.23 billion, a P/E ratio of 108.79, a P/E/G ratio of 2.87 and a beta of 1.67. The firm’s 50 day simple moving average is $635.53 and its 200 day simple moving average is $615.43.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The company 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%.GE Vernova’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.35) EPS. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms have commented on GEV. Citigroup upped their price objective on shares of GE Vernova from $658.00 to $708.00 and gave the company a “neutral” rating in a report on Monday, January 12th. Barclays upped their price target on shares of GE Vernova from $800.00 to $830.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. UBS Group raised their price objective on shares of GE Vernova from $760.00 to $835.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Rothschild & Co Redburn reissued a “sell” rating and set a $475.00 target price on shares of GE Vernova in a report on Wednesday, October 15th. Finally, TD Cowen restated a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $701.62.

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.