GE Vernova Inc. $GEV Shares Acquired by Friedenthal Financial

Friedenthal Financial lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 542.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,967 shares of the company’s stock after purchasing an additional 1,661 shares during the period. Friedenthal Financial’s holdings in GE Vernova were worth $1,210,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. WFA Asset Management Corp purchased a new position in shares of GE Vernova during the second quarter worth about $29,000. 1248 Management LLC acquired a new stake in GE Vernova during the 1st quarter worth $31,000. Howard Hughes Medical Institute purchased a new position in GE Vernova during the 2nd quarter worth $31,000. Bay Harbor Wealth Management LLC increased its stake in GE Vernova by 537.5% in the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the period. Finally, Monetary Management Group Inc. purchased a new stake in shares of GE Vernova in the second quarter valued at about $32,000.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley increased their price objective on GE Vernova from $710.00 to $822.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. Oppenheimer raised GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 target price for the company in a report on Wednesday, December 10th. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the company a “buy” rating in a research note on Monday, September 15th. Finally, TD Cowen dropped their target price on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $691.11.

GE Vernova Stock Performance

Shares of GEV opened at $660.53 on Wednesday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $731.00. The company’s 50 day simple moving average is $601.77 and its 200 day simple moving average is $592.10. The company has a market capitalization of $179.22 billion, a price-to-earnings ratio of 107.58, a PEG ratio of 5.05 and a beta of 1.71.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). The business had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.35) earnings per share. Equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.3%. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s dividend payout ratio (DPR) is currently 16.29%.

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.