CWA Asset Management Group LLC Grows Stock Holdings in GE Vernova Inc. $GEV

CWA Asset Management Group LLC grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 50.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,630 shares of the company’s stock after buying an additional 1,211 shares during the period. CWA Asset Management Group LLC’s holdings in GE Vernova were worth $2,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Synergy Asset Management LLC grew its holdings in shares of GE Vernova by 300.0% during the third quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock valued at $1,078,000 after buying an additional 1,413 shares during the last quarter. Pines Wealth Management LLC purchased a new stake in GE Vernova during the 2nd quarter valued at $408,000. Dupree Financial Group LLC purchased a new stake in GE Vernova during the 2nd quarter valued at $253,000. Kercheville Advisors LLC increased its holdings in shares of GE Vernova by 238.3% in the 3rd quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock worth $3,016,000 after purchasing an additional 3,455 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of GE Vernova by 18.8% in the second quarter. International Assets Investment Management LLC now owns 3,903 shares of the company’s stock worth $2,065,000 after purchasing an additional 619 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently commented on GEV. Evercore ISI initiated coverage on GE Vernova in a research report on Monday, December 15th. They set an “outperform” rating and a $860.00 price objective on the stock. Robert W. Baird set a $816.00 price target on shares of GE Vernova in a report on Thursday, December 18th. Jefferies Financial Group set a $830.00 price objective on shares of GE Vernova in a report on Monday, December 22nd. Susquehanna increased their price objective on shares of GE Vernova from $750.00 to $775.00 and gave the company a “positive” rating in a research report on Wednesday, December 10th. Finally, Barclays raised their target price on shares of GE Vernova from $710.00 to $720.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $691.11.

GE Vernova Trading Up 0.1%

Shares of GEV stock opened at $680.46 on Tuesday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $731.00. The stock has a market cap of $184.62 billion, a P/E ratio of 110.82, a P/E/G ratio of 2.85 and a beta of 1.67. The company has a 50 day simple moving average of $614.72 and a two-hundred day simple moving average of $603.62.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.35) earnings per share. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share 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 given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, January 5th. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s payout ratio is presently 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.