GE Vernova Inc. $GEV Shares Purchased by Allworth Financial LP

Allworth Financial LP boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 71.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,460 shares of the company’s stock after acquiring an additional 6,035 shares during the period. Allworth Financial LP’s holdings in GE Vernova were worth $9,451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in GEV. Jackson Grant Investment Advisers Inc. grew its stake in 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 during the last quarter. Wealth Watch Advisors INC acquired a new stake in GE Vernova in the 3rd quarter valued at about $25,000. Torren Management LLC acquired a new stake in GE Vernova in the 4th quarter valued at about $26,000. ORG Wealth Partners LLC grew its stake in GE Vernova by 241.7% in the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after acquiring an additional 29 shares during the last quarter. Finally, Navalign LLC acquired a new stake in GE Vernova in the 4th quarter valued at about $27,000.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Weiss Ratings upgraded shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Rothschild & Co Redburn upgraded shares of GE Vernova from a “sell” rating to a “buy” rating and upped their target price for the company from $560.00 to $1,100.00 in a report on Monday, March 9th. UBS Group restated a “buy” rating on shares of GE Vernova in a report on Thursday, January 29th. Mizuho set a $714.00 target price on shares of GE Vernova in a report on Tuesday, February 3rd. Finally, Jefferies Financial Group upped their target price on shares of GE Vernova from $965.00 to $1,350.00 and gave the company a “buy” rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,090.76.

GE Vernova Trading Up 2.4%

Shares of GEV stock opened at $1,088.45 on Friday. The firm has a market cap of $292.49 billion, a P/E ratio of 31.71, a PEG ratio of 3.98 and a beta of 1.51. GE Vernova Inc. has a 1-year low of $421.64 and a 1-year high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The firm’s 50-day simple moving average is $953.65 and its 200-day simple moving average is $772.68.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping the consensus estimate of $1.95 by $15.49. The business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company’s revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 EPS. As a group, equities analysts forecast that GE Vernova Inc. will post 14.84 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Tuesday, March 17th. GE Vernova’s dividend payout ratio is presently 5.83%.

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.