CIBC Private Wealth Group LLC Purchases 178,620 Shares of GE Vernova Inc. $GEV

CIBC Private Wealth Group LLC boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 100.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 357,214 shares of the company’s stock after purchasing an additional 178,620 shares during the period. CIBC Private Wealth Group LLC’s holdings in GE Vernova were worth $219,651,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital Square LLC grew its stake in GE Vernova by 2.3% in the third quarter. Capital Square LLC now owns 1,866 shares of the company’s stock valued at $1,147,000 after acquiring an additional 42 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of GE Vernova during the third quarter worth about $23,110,000. Tcfg Wealth Management LLC lifted its holdings in shares of GE Vernova by 9.2% during the 3rd quarter. Tcfg Wealth Management LLC now owns 886 shares of the company’s stock valued at $545,000 after purchasing an additional 75 shares in the last quarter. Maple Capital Management Inc. bought a new position in shares of GE Vernova during the 3rd quarter valued at about $220,000. Finally, Oarsman Capital Inc. acquired a new position in shares of GE Vernova in the 3rd quarter valued at approximately $211,000.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 10th. The Goldman Sachs Group lifted their price target on shares of GE Vernova from $840.00 to $925.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Weiss Ratings upgraded shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Glj Research raised their price objective on shares of GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Finally, Barclays reaffirmed an “overweight” rating and issued a $849.00 price objective on shares of GE Vernova in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $831.29.

GE Vernova Trading Up 1.9%

NYSE GEV opened at $843.39 on Wednesday. The company has a market cap of $227.32 billion, a PE ratio of 47.38, a PEG ratio of 3.29 and a beta of 1.44. 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 $765.97 and a 200-day moving average of $667.09.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $10.21 billion. During the same period in the previous year, the company earned $1.73 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company 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 annualized dividend and a dividend yield of 0.2%. GE Vernova’s payout ratio is currently 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.