Sunbelt Securities Inc. Has $1.47 Million Stake in GE Vernova Inc. $GEV

Sunbelt Securities Inc. lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 82.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,389 shares of the company’s stock after acquiring an additional 1,077 shares during the quarter. Sunbelt Securities Inc.’s holdings in GE Vernova were worth $1,469,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Jackson Grant Investment Advisers Inc. boosted its position in GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the period. Wealth Watch Advisors INC bought a new position in shares of GE Vernova in the third quarter valued at about $25,000. Howard Hughes Medical Institute acquired a new stake in shares of GE Vernova during the 2nd quarter worth about $31,000. Bay Harbor Wealth Management LLC lifted its stake in shares of GE Vernova by 537.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the last quarter. Finally, Monetary Management Group Inc. bought a new stake in shares of GE Vernova during the 2nd quarter worth about $32,000.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GEV shares. Susquehanna upped their price target on shares of GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a research note on Thursday, January 29th. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. Wells Fargo & Company upped their target price on GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Robert W. Baird set a $923.00 price target on GE Vernova and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Finally, Weiss Ratings upgraded GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $831.29.

GE Vernova Stock Up 1.5%

Shares of NYSE:GEV opened at $856.81 on Thursday. The company’s 50 day moving average price is $769.86 and its two-hundred day moving average price is $668.41. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $894.93. The firm has a market cap of $230.93 billion, a PE ratio of 48.14, a PEG ratio of 3.36 and a beta of 1.45.

GE Vernova (NYSE:GEV) last released 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. The company had revenue of $10.96 billion during 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 quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.73 earnings per share. On average, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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

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.