Elevation Point Wealth Partners LLC Grows Stock Holdings in GE Vernova Inc. $GEV

Elevation Point Wealth Partners LLC raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 549.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,812 shares of the company’s stock after purchasing an additional 1,533 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in GE Vernova were worth $1,114,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GEV. Synergy Asset Management LLC raised its holdings in GE Vernova by 300.0% during the 3rd quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock valued at $1,078,000 after buying an additional 1,413 shares during the period. J.W. Cole Advisors Inc. boosted its stake in GE Vernova by 25.3% during the third quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock worth $9,990,000 after buying an additional 3,278 shares during the period. Kercheville Advisors LLC increased its position 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 acquiring an additional 3,455 shares during the last quarter. Rakuten Investment Management Inc. bought a new position in GE Vernova during the third quarter valued at $18,601,000. Finally, US Bancorp DE raised its position in GE Vernova by 2.2% in the 3rd quarter. US Bancorp DE now owns 100,542 shares of the company’s stock worth $61,824,000 after purchasing an additional 2,163 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Bank of America increased their target price on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Wells Fargo & Company increased their price target on GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Weiss Ratings upgraded GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. Rothschild & Co Redburn upgraded GE Vernova from a “sell” rating to a “buy” rating and lifted their price objective for the company from $560.00 to $1,100.00 in a report on Monday, March 9th. Finally, Glj Research upped their price objective on shares of GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $831.29.

GE Vernova Stock Up 2.6%

GE Vernova stock opened at $825.99 on Tuesday. The firm has a market cap of $222.63 billion, a P/E ratio of 46.40, a P/E/G ratio of 3.20 and a beta of 1.44. The business has a fifty day moving average of $762.83 and a two-hundred day moving average of $665.47. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $894.93.

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

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s payout ratio is 11.24%.

About GE Vernova

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.