GE Vernova Inc. $GEV Shares Acquired by Cerity Partners LLC

Cerity Partners LLC boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 13.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 86,748 shares of the company’s stock after purchasing an additional 10,454 shares during the period. Cerity Partners LLC’s holdings in GE Vernova were worth $53,341,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of GEV. Synergy Asset Management LLC boosted its holdings in GE Vernova by 300.0% in the third quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock worth $1,078,000 after purchasing an additional 1,413 shares during the period. Pines Wealth Management LLC bought a new position in shares of GE Vernova in the 2nd quarter worth about $408,000. Kercheville Advisors LLC boosted 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 valued at $3,016,000 after buying an additional 3,455 shares during the period. Dupree Financial Group LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at about $253,000. Finally, International Assets Investment Management LLC grew its position in shares of GE Vernova by 18.8% during the 2nd quarter. International Assets Investment Management LLC now owns 3,903 shares of the company’s stock valued at $2,065,000 after buying an additional 619 shares during the last quarter.

GE Vernova Price Performance

GEV opened at $662.38 on Thursday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $731.00. The stock’s 50 day moving average price is $618.74 and its 200 day moving average price is $605.43. The stock has a market cap of $179.72 billion, a P/E ratio of 107.88, a P/E/G ratio of 2.87 and a beta of 1.67.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $9.15 billion. During the same period in the previous year, the company posted ($0.35) EPS. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a dividend of $0.50 per share. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. GE Vernova’s payout ratio is presently 32.57%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. reissued an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. Mizuho dropped their price target on GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Seaport Res Ptn downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Finally, Glj Research raised their target price on GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $695.19.

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.