Global Retirement Partners LLC Acquires 983 Shares of GE Vernova Inc. $GEV

Global Retirement Partners LLC boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 16.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,997 shares of the company’s stock after purchasing an additional 983 shares during the quarter. Global Retirement Partners LLC’s holdings in GE Vernova were worth $4,302,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEV. Vanguard Group Inc. lifted its holdings in shares of GE Vernova by 1.1% during the second quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock worth $13,051,258,000 after buying an additional 271,958 shares during the last quarter. State Street Corp increased its position in GE Vernova by 1.9% during the second quarter. State Street Corp now owns 11,097,778 shares of the company’s stock worth $5,872,389,000 after acquiring an additional 206,650 shares during the period. Geode Capital Management LLC raised its stake in GE Vernova by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock valued at $3,221,404,000 after purchasing an additional 129,315 shares during the last quarter. Norges Bank bought a new stake in GE Vernova in the 2nd quarter valued at $1,809,220,000. Finally, Invesco Ltd. boosted its holdings in GE Vernova by 26.3% in the 2nd quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock valued at $1,173,262,000 after purchasing an additional 462,038 shares during the period.

Wall Street Analysts Forecast Growth

GEV has been the topic of several research reports. UBS Group boosted their price objective on shares of GE Vernova from $760.00 to $835.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Barclays upped their price target on GE Vernova from $710.00 to $720.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. BMO Capital Markets lifted their price objective on GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Susquehanna boosted their price objective on GE Vernova from $750.00 to $775.00 and gave the company a “positive” rating in a research report on Wednesday, December 10th. Finally, Melius raised GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price for the company in a research report on Monday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $691.11.

GE Vernova Trading Up 3.8%

GEV stock opened at $678.29 on Monday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $731.00. The business’s 50 day moving average is $612.80 and its 200-day moving average is $602.28. The firm has a market cap of $184.03 billion, a P/E ratio of 110.47, a P/E/G ratio of 2.85 and a beta of 1.67.

GE Vernova (NYSE:GEV) last posted 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 company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.35) EPS. Sell-side analysts forecast 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. Shareholders of record on Monday, January 5th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, January 5th. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

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.