GE Vernova Inc. $GEV Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC raised its stake in GE Vernova Inc. (NYSE:GEV) by 6.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,351 shares of the company’s stock after purchasing an additional 1,894 shares during the quarter. Apollon Wealth Management LLC’s holdings in GE Vernova were worth $19,893,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of GEV. WFA Asset Management Corp purchased a new stake in shares of GE Vernova during the 2nd quarter valued at about $29,000. 1248 Management LLC acquired a new stake in GE Vernova in the first quarter valued at approximately $31,000. Howard Hughes Medical Institute purchased a new stake in shares of GE Vernova during the second quarter valued at approximately $31,000. Bay Harbor Wealth Management LLC lifted its position in shares of GE Vernova by 537.5% during the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Finally, Monetary Management Group Inc. acquired a new position in shares of GE Vernova during the second quarter worth $32,000.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. TD Cowen lowered their price target 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. JPMorgan Chase & Co. restated an “overweight” rating on shares of GE Vernova in a research note on Wednesday, December 10th. HSBC boosted their price target on GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research note on Friday, September 5th. Seaport Res Ptn downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 11th. Finally, Bank of America lifted their price objective on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $691.11.

GE Vernova Trading Down 0.5%

GEV stock opened at $663.65 on Friday. The stock’s 50 day simple moving average is $605.33 and its 200 day simple moving average is $595.32. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $731.00. The firm has a market cap of $180.06 billion, a P/E ratio of 108.09, a P/E/G ratio of 5.06 and a beta of 1.71.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 17.07% and a net margin of 4.52%.The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.35) EPS. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be paid 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 is Monday, January 5th. GE Vernova’s dividend payout ratio (DPR) is currently 16.29%.

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.