Atria Investments Inc Purchases 4,287 Shares of GE Vernova Inc. $GEV

Atria Investments Inc raised its holdings in GE Vernova Inc. (NYSE:GEV) by 79.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 9,681 shares of the company’s stock after purchasing an additional 4,287 shares during the quarter. Atria Investments Inc’s holdings in GE Vernova were worth $5,953,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of GEV. Illinois Municipal Retirement Fund boosted its holdings in GE Vernova by 31.4% in the third quarter. Illinois Municipal Retirement Fund now owns 11,381 shares of the company’s stock valued at $6,998,000 after acquiring an additional 2,722 shares during the last quarter. Wedbush Securities Inc. grew its stake in shares of GE Vernova by 5.6% during the third quarter. Wedbush Securities Inc. now owns 6,107 shares of the company’s stock worth $3,755,000 after purchasing an additional 324 shares during the period. Varma Mutual Pension Insurance Co increased its holdings in GE Vernova by 16.9% in the third quarter. Varma Mutual Pension Insurance Co now owns 45,743 shares of the company’s stock valued at $28,127,000 after purchasing an additional 6,600 shares during the last quarter. Caisse Des Depots ET Consignations lifted its stake in GE Vernova by 72.3% in the third quarter. Caisse Des Depots ET Consignations now owns 11,755 shares of the company’s stock valued at $7,228,000 after buying an additional 4,931 shares during the period. Finally, Mitchell Capital Management Co. bought a new position in GE Vernova during the third quarter worth about $4,229,000.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price target on the stock in a research report on Friday, January 30th. Oppenheimer reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 29th. China Renaissance upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, January 29th. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. Finally, Royal Bank Of Canada lifted their price target on shares of GE Vernova from $761.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $788.24.

GE Vernova Stock Performance

Shares of GEV stock opened at $801.76 on Friday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $846.00. The stock has a market cap of $216.10 billion, a price-to-earnings ratio of 45.04, a PEG ratio of 3.25 and a beta of 1.67. The firm’s 50-day moving average is $689.84 and its 200-day moving average is $635.49.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $10.40. The firm had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.73 earnings per share. Sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 5th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, January 5th. GE Vernova’s dividend payout ratio is currently 11.24%.

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.