Focus Partners Wealth Acquires 59,546 Shares of GE Vernova Inc. $GEV

Focus Partners Wealth raised its holdings in GE Vernova Inc. (NYSE:GEV) by 148.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 99,776 shares of the company’s stock after acquiring an additional 59,546 shares during the quarter. Focus Partners Wealth’s holdings in GE Vernova were worth $61,352,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. grew its holdings in shares of GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares in the last quarter. Wealth Watch Advisors INC bought a new stake in GE Vernova during the third quarter worth about $25,000. Howard Hughes Medical Institute bought a new stake in GE Vernova during the second quarter worth about $31,000. Bay Harbor Wealth Management LLC boosted its position in GE Vernova by 537.5% during 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. Finally, Monetary Management Group Inc. bought a new position in GE Vernova in the second quarter valued at approximately $32,000.

Analyst Ratings Changes

Several research analysts have weighed in on GEV shares. Wall Street Zen raised GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Morgan Stanley reissued an “overweight” rating and issued a $817.00 target price on shares of GE Vernova in a research note on Monday, January 26th. Bank of America boosted their target price on shares of GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Erste Group Bank began coverage on shares of GE Vernova in a research report on Thursday, March 5th. They set a “buy” rating on the stock. Finally, Evercore lifted their price objective on shares of GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $831.29.

GE Vernova Trading Up 2.6%

Shares of NYSE GEV opened at $825.99 on Tuesday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $894.93. The stock has a 50 day moving average of $762.83 and a 200-day moving average of $665.47. The company has a market capitalization 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.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $10.21 billion. During the same quarter in the prior year, the business earned $1.73 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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