Belvedere Trading LLC Invests $3.32 Million in GE Vernova Inc. $GEV

Belvedere Trading LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,392 shares of the company’s stock, valued at approximately $3,316,000. GE Vernova makes up about 0.0% of Belvedere Trading LLC’s holdings, making the stock its 19th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. WFA Asset Management Corp purchased a new position in GE Vernova during the second quarter worth about $29,000. Howard Hughes Medical Institute purchased a new position in shares of GE Vernova during the second quarter worth about $31,000. Bay Harbor Wealth Management LLC increased its position in shares of GE Vernova by 537.5% in the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the last quarter. Monetary Management Group Inc. purchased a new stake in GE Vernova in the second quarter valued at approximately $32,000. Finally, Elevation Wealth Partners LLC lifted its position in GE Vernova by 47.2% during the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after purchasing an additional 17 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Melius raised GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price on the stock in a research note on Monday, September 15th. Glj Research raised their price target on GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a research report on Monday. Finally, Seaport Res Ptn cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 11th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $703.04.

GE Vernova Trading Up 2.8%

NYSE GEV opened at $640.17 on Tuesday. The firm has a market cap of $173.69 billion, a PE ratio of 104.26, a price-to-earnings-growth ratio of 2.61 and a beta of 1.67. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $731.00. The stock has a 50-day moving average of $621.72 and a 200-day moving average of $608.79.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS 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 company 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 earned ($0.35) earnings per share. GE Vernova’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

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

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.