Summitry LLC Buys New Shares in GE Vernova Inc. $GEV

Summitry LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 653 shares of the company’s stock, valued at approximately $402,000.

Several other institutional investors also recently made changes to their positions in the stock. WFA Asset Management Corp acquired a new position in GE Vernova in the second quarter valued at $29,000. Howard Hughes Medical Institute acquired a new position in shares of GE Vernova in the 2nd quarter valued at about $31,000. Bay Harbor Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 43 shares during the period. Monetary Management Group Inc. acquired a new stake in GE Vernova during the 2nd quarter worth approximately $32,000. Finally, Elevation Wealth Partners LLC grew its stake in GE Vernova by 47.2% during the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after buying an additional 17 shares during the period.

Analyst Ratings Changes

Several analysts recently issued reports on GEV shares. China Renaissance upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, January 29th. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price target on the stock in a research report on Friday, January 30th. Bank of America lifted their price objective on shares of GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Susquehanna raised their price target on shares of GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a report on Thursday, January 29th. Finally, Wolfe Research upgraded shares of GE Vernova from a “peer perform” rating to a “buy” rating in a report 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Price Performance

GEV opened at $801.76 on Monday. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $846.00. The stock has a market capitalization of $216.10 billion, a PE ratio of 45.04, a P/E/G ratio of 3.19 and a beta of 1.67. The firm’s fifty day moving average price is $689.84 and its 200 day moving average price is $635.38.

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

GE Vernova Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, January 5th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, January 5th. This is a positive change 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 payout ratio is presently 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.