First United Bank & Trust Grows Stock Holdings in GE Vernova Inc. $GEV

First United Bank & Trust grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 1,142.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,006 shares of the company’s stock after buying an additional 925 shares during the quarter. First United Bank & Trust’s holdings in GE Vernova were worth $619,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. WFA Asset Management Corp purchased a new stake in GE Vernova in the 2nd quarter worth approximately $29,000. Howard Hughes Medical Institute purchased a new position in shares of GE Vernova during the second quarter valued at approximately $31,000. Bay Harbor Wealth Management LLC raised its holdings in shares of GE Vernova by 537.5% during the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares in the last quarter. Monetary Management Group Inc. purchased a new stake in GE Vernova in the second quarter worth $32,000. Finally, Elevation Wealth Partners LLC lifted its stake in GE Vernova by 47.2% in the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares during the period.

Analyst Ratings Changes

Several brokerages have commented on GEV. Rothschild Redb lowered shares of GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Evercore ISI started coverage on shares of GE Vernova in a research report on Monday, December 15th. They set an “outperform” rating and a $860.00 price target on the stock. Cowen restated a “buy” rating on shares of GE Vernova in a report on Thursday, October 23rd. Robert W. Baird reiterated a “neutral” rating and set a $649.00 target price (down previously from $816.00) on shares of GE Vernova in a report on Friday. Finally, Citigroup increased their target price on GE Vernova from $658.00 to $708.00 and gave the stock a “neutral” rating in a research report on Monday. Three analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $703.04.

GE Vernova Stock Up 2.8%

Shares of GEV opened at $640.17 on Tuesday. The stock has a market cap of $173.69 billion, a P/E ratio of 104.26, a P/E/G ratio of 2.61 and a beta of 1.67. The business’s 50 day moving average price is $621.72 and its 200-day moving average price is $608.79. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $731.00.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the previous year, the firm posted ($0.35) EPS. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

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