Daymark Wealth Partners LLC Purchases 1,124 Shares of GE Vernova Inc. $GEV

Daymark Wealth Partners LLC grew its position in GE Vernova Inc. (NYSE:GEV) by 13.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,278 shares of the company’s stock after buying an additional 1,124 shares during the period. Daymark Wealth Partners LLC’s holdings in GE Vernova were worth $5,705,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in GE Vernova by 1.3% in the third quarter. Commonwealth Equity Services LLC now owns 131,789 shares of the company’s stock valued at $81,037,000 after acquiring an additional 1,668 shares during the period. Sandy Cove Advisors LLC acquired a new stake in shares of GE Vernova during the third quarter worth about $228,000. Fifth Third Wealth Advisors LLC lifted its holdings in shares of GE Vernova by 10.1% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 17,573 shares of the company’s stock valued at $10,806,000 after purchasing an additional 1,606 shares in the last quarter. Penobscot Investment Management Company Inc. grew its position in shares of GE Vernova by 5.7% in the 3rd quarter. Penobscot Investment Management Company Inc. now owns 1,479 shares of the company’s stock valued at $910,000 after purchasing an additional 80 shares during the period. Finally, Wealth Management Partners LLC grew its position in shares of GE Vernova by 47.7% in the 3rd quarter. Wealth Management Partners LLC now owns 709 shares of the company’s stock valued at $436,000 after purchasing an additional 229 shares during the period.

GE Vernova Stock Up 3.8%

NYSE GEV opened at $678.29 on Monday. The firm’s 50 day moving average is $612.80 and its 200-day moving average is $602.28. The company has a market capitalization of $184.03 billion, a PE ratio of 110.47, a price-to-earnings-growth ratio of 2.85 and a beta of 1.67. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $731.00.

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

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio is 16.29%.

Analyst Ratings Changes

Several analysts have commented on GEV shares. Oppenheimer upgraded shares of GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 target price on the stock in a report on Wednesday, December 10th. Rothschild & Co Redburn reiterated a “sell” rating and issued a $475.00 price target on shares of GE Vernova in a report on Wednesday, October 15th. Morgan Stanley raised their price objective on shares of GE Vernova from $710.00 to $822.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Mizuho cut their price objective on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Finally, UBS Group upped their target price on shares of GE Vernova from $760.00 to $835.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Four investment 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 assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $691.11.

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.