GE Vernova Inc. $GEV Stock Holdings Increased by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its position in shares of GE Vernova Inc. (NYSE:GEV) by 4.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 34,468 shares of the company’s stock after purchasing an additional 1,355 shares during the quarter. Wealthfront Advisers LLC’s holdings in GE Vernova were worth $21,194,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of GE Vernova during the 2nd quarter valued at approximately $1,809,220,000. Arrowstreet Capital Limited Partnership increased its stake in GE Vernova by 273.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock valued at $798,126,000 after purchasing an additional 1,104,747 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of GE Vernova by 771.3% during the second quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock worth $403,861,000 after purchasing an additional 675,629 shares during the period. Invesco Ltd. lifted its position in shares of GE Vernova by 26.3% in the 2nd quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock worth $1,173,262,000 after buying an additional 462,038 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in shares of GE Vernova by 66.0% in the 2nd quarter. Raymond James Financial Inc. now owns 944,567 shares of the company’s stock valued at $499,817,000 after buying an additional 375,677 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $930.00 price objective on shares of GE Vernova in a research note on Thursday, January 29th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Oppenheimer restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 29th. Finally, Bank of America upped their price objective on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $788.24.

GE Vernova Price Performance

Shares of GEV stock opened at $801.25 on Tuesday. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $814.86. The firm has a market capitalization of $215.96 billion, a price-to-earnings ratio of 45.01, a price-to-earnings-growth ratio of 3.10 and a beta of 1.67. The business has a 50 day simple moving average of $674.49 and a 200 day simple moving average of $630.80.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating the consensus estimate of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The firm had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $10.21 billion. During the same quarter in the previous year, the business earned $1.73 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 5th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, January 5th. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is currently 11.24%.

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.