GE Vernova Inc. $GEV Stake Boosted by National Bank of Canada FI

National Bank of Canada FI boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 5.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 224,699 shares of the company’s stock after purchasing an additional 12,204 shares during the quarter. National Bank of Canada FI’s holdings in GE Vernova were worth $138,161,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GEV. Northwest Wealth Management LLC increased its position in shares of GE Vernova by 3.6% in the third quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock worth $286,000 after acquiring an additional 16 shares in the last quarter. Traphagen Investment Advisors LLC lifted its position in shares of GE Vernova by 1.2% in the 3rd quarter. Traphagen Investment Advisors LLC now owns 1,418 shares of the company’s stock valued at $872,000 after acquiring an additional 17 shares in the last quarter. Navigoe LLC boosted its stake in GE Vernova by 20.2% in the 3rd quarter. Navigoe LLC now owns 101 shares of the company’s stock worth $62,000 after purchasing an additional 17 shares during the period. Elevation Wealth Partners LLC boosted its stake in GE Vernova by 47.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares during the period. Finally, Tritonpoint Wealth LLC grew its position in GE Vernova by 1.7% during the 3rd quarter. Tritonpoint Wealth LLC now owns 994 shares of the company’s stock worth $611,000 after purchasing an additional 17 shares in the last quarter.

GE Vernova Stock Up 2.6%

Shares of GEV stock 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 company’s fifty day simple moving average is $762.83 and its 200-day simple moving average is $665.47. The firm has a market cap of $222.63 billion, a PE ratio of 46.40, a P/E/G ratio of 3.20 and a beta of 1.44.

GE Vernova (NYSE:GEV) last released its 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 net margin of 12.83% and a return on equity of 46.91%. The business had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share 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 paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is currently 11.24%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GEV. Evercore boosted their target price on shares of GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Erste Group Bank assumed coverage on GE Vernova in a research report on Thursday, March 5th. They issued a “buy” rating for the company. Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and upped their price target for the company from $560.00 to $1,100.00 in a research report on Monday, March 9th. UBS Group reissued a “buy” rating on shares of GE Vernova in a research note on Thursday, January 29th. Finally, Susquehanna raised their price objective on GE Vernova from $800.00 to $820.00 and gave the stock a “positive” rating in a research report on Thursday, January 29th. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $831.29.

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.