Peterson Wealth Services Grows Position in GE Vernova Inc. $GEV

Peterson Wealth Services grew its position in GE Vernova Inc. (NYSE:GEV) by 111.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,007 shares of the company’s stock after acquiring an additional 1,058 shares during the quarter. Peterson Wealth Services’ holdings in GE Vernova were worth $1,234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GEV. Peak Retirement Planning Inc. purchased a new position in GE Vernova in the third quarter valued at approximately $586,000. Money Concepts Capital Corp raised its stake in shares of GE Vernova by 35.8% in the 3rd quarter. Money Concepts Capital Corp now owns 835 shares of the company’s stock valued at $513,000 after acquiring an additional 220 shares during the period. Atlantic Union Bankshares Corp raised its stake in shares of GE Vernova by 89.8% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 2,240 shares of the company’s stock valued at $1,377,000 after acquiring an additional 1,060 shares during the period. AGF Management Ltd. lifted its holdings in shares of GE Vernova by 0.3% during the 3rd quarter. AGF Management Ltd. now owns 173,535 shares of the company’s stock valued at $106,707,000 after acquiring an additional 540 shares in the last quarter. Finally, Strategy Asset Managers LLC boosted its position in GE Vernova by 182.5% during the 3rd quarter. Strategy Asset Managers LLC now owns 1,808 shares of the company’s stock worth $1,112,000 after purchasing an additional 1,168 shares during the period.

Wall Street Analyst Weigh In

Several research firms have commented on GEV. Wells Fargo & Company raised their price objective on GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Wall Street Zen upgraded GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group restated a “buy” rating on shares of GE Vernova in a report on Thursday. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Finally, Rothschild Redb lowered shares of GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $752.96.

GE Vernova Trading Up 4.4%

Shares of NYSE:GEV opened at $758.06 on Tuesday. The firm has a market cap of $205.68 billion, a PE ratio of 42.59, a price-to-earnings-growth ratio of 3.03 and a beta of 1.67. The company has a fifty day simple moving average of $656.20 and a 200 day simple moving average of $624.47. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $762.36.

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

GE Vernova Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 5th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. 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.