Commonwealth Equity Services LLC Buys 1,668 Shares of GE Vernova Inc. $GEV

Commonwealth Equity Services LLC raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 131,789 shares of the company’s stock after purchasing an additional 1,668 shares during the quarter. Commonwealth Equity Services LLC’s holdings in GE Vernova were worth $81,037,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC lifted its holdings in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after buying an additional 753 shares during the period. Integrated Wealth Concepts LLC raised its position in shares of GE Vernova by 3.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 9,864 shares of the company’s stock worth $3,011,000 after acquiring an additional 299 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of GE Vernova by 0.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,500 shares of the company’s stock valued at $19,003,000 after purchasing an additional 501 shares during the period. NewEdge Advisors LLC raised its holdings in GE Vernova by 12.7% in the first quarter. NewEdge Advisors LLC now owns 29,078 shares of the company’s stock worth $8,877,000 after purchasing an additional 3,275 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its position in GE Vernova by 30.7% during the first quarter. UniSuper Management Pty Ltd now owns 23,741 shares of the company’s stock valued at $7,248,000 after buying an additional 5,574 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GEV shares. Melius raised shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price on the stock in a research report on Monday, September 15th. Cowen reaffirmed a “buy” rating on shares of GE Vernova in a research note on Thursday, October 23rd. Evercore ISI started coverage on GE Vernova in a research report on Monday, December 15th. They issued an “outperform” rating and a $860.00 price target on the stock. Morgan Stanley raised their price objective on GE Vernova from $710.00 to $822.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Finally, Barclays increased their target price on GE Vernova from $710.00 to $720.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $691.11.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $680.46 on Tuesday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $731.00. The company has a market cap of $184.62 billion, a P/E ratio of 110.82, a PEG ratio of 2.85 and a beta of 1.67. The stock’s fifty day moving average price is $614.72 and its 200-day moving average price is $603.62.

GE Vernova (NYSE:GEV) last issued 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 return on equity of 17.07% and a net margin of 4.52%.The business had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same period last year, the firm posted ($0.35) EPS. GE Vernova’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The company also recently declared 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 is Monday, January 5th. This represents a $2.00 annualized dividend and a yield of 0.3%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio (DPR) is 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.