Centaurus Financial Inc. Raises Stock Holdings in GE Vernova Inc. $GEV

Centaurus Financial Inc. raised its stake in GE Vernova Inc. (NYSE:GEV) by 31.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,369 shares of the company’s stock after buying an additional 799 shares during the quarter. Centaurus Financial Inc.’s holdings in GE Vernova were worth $2,072,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. raised its stake in shares of GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares during the period. Wealth Watch Advisors INC purchased a new position in shares of GE Vernova during the 3rd quarter worth approximately $25,000. Howard Hughes Medical Institute purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $31,000. Bay Harbor Wealth Management LLC increased its holdings in GE Vernova by 537.5% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Finally, Monetary Management Group Inc. acquired a new stake in GE Vernova in the 2nd quarter valued at approximately $32,000.

GE Vernova Stock Up 1.5%

Shares of GEV stock opened at $856.81 on Thursday. The firm has a 50 day moving average of $769.86 and a two-hundred day moving average of $668.41. The stock has a market capitalization of $230.93 billion, a PE ratio of 48.14, a P/E/G ratio of 3.36 and a beta of 1.45. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $894.93.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $10.40. The business 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 company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 earnings per share. Analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is 11.24%.

Analyst Upgrades and Downgrades

A number of research firms have commented on GEV. Oppenheimer restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 29th. TD Cowen boosted their price objective on GE Vernova from $680.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 target price on the stock in a research note on Friday, January 30th. Robert W. Baird set a $923.00 target price on GE Vernova and gave the company an “outperform” rating in a report on Wednesday, February 4th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $785.00 target price on shares of GE Vernova in a research report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $831.29.

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.