Coldstream Capital Management Inc. Purchases 783 Shares of GE Vernova Inc. $GEV

Coldstream Capital Management Inc. raised its position in GE Vernova Inc. (NYSE:GEV) by 12.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 7,302 shares of the company’s stock after purchasing an additional 783 shares during the quarter. Coldstream Capital Management Inc.’s holdings in GE Vernova were worth $4,490,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares during the last quarter. Schnieders Capital Management LLC. boosted its holdings in shares of GE Vernova by 1.7% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock worth $828,000 after acquiring an additional 26 shares in the last quarter. Avantax Advisory Services Inc. grew its position in GE Vernova by 11.6% during the 2nd quarter. Avantax Advisory Services Inc. now owns 9,155 shares of the company’s stock worth $4,844,000 after acquiring an additional 953 shares during the last quarter. Empowered Funds LLC increased its holdings in GE Vernova by 230.0% during the 2nd quarter. Empowered Funds LLC now owns 17,578 shares of the company’s stock valued at $9,301,000 after purchasing an additional 12,251 shares in the last quarter. Finally, First American Trust FSB acquired a new stake in GE Vernova during the 2nd quarter valued at $216,000.

GE Vernova Stock Performance

Shares of GEV stock opened at $856.81 on Thursday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $894.93. The stock has a market cap of $230.93 billion, a PE ratio of 48.14, a PEG ratio of 3.36 and a beta of 1.45. The firm’s 50 day moving average price is $769.86 and its two-hundred day moving average price is $668.41.

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

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GEV shares. TD Cowen boosted their price objective on GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Citigroup raised their target price on GE Vernova from $708.00 to $779.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $817.00 price target on shares of GE Vernova in a report on Monday, January 26th. Rothschild & Co Redburn upgraded shares of GE Vernova from a “sell” rating to a “buy” rating and upped their price target for the stock from $560.00 to $1,100.00 in a research report on Monday, March 9th. Finally, Mizuho set a $714.00 price objective on shares of GE Vernova in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $831.29.

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.