GE Vernova Inc. $GEV Shares Bought by Leavell Investment Management Inc.

Leavell Investment Management Inc. grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 21.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,504 shares of the company’s stock after purchasing an additional 1,513 shares during the period. Leavell Investment Management Inc.’s holdings in GE Vernova were worth $5,229,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GEV. WFA Asset Management Corp purchased a new stake in GE Vernova during the 2nd quarter worth $29,000. Howard Hughes Medical Institute purchased a new stake in shares of GE Vernova during the second quarter worth about $31,000. Bay Harbor Wealth Management LLC lifted its stake 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 acquiring an additional 43 shares in the last quarter. Monetary Management Group Inc. purchased a new position in GE Vernova in the second quarter valued at about $32,000. Finally, Elevation Wealth Partners LLC boosted its holdings in GE Vernova by 47.2% in 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.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. The Goldman Sachs Group lifted their price target on shares of GE Vernova from $735.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. UBS Group upped their price target on shares of GE Vernova from $760.00 to $835.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Evercore ISI started coverage on shares of GE Vernova in a research note on Monday, December 15th. They set an “outperform” rating and a $860.00 price objective on the stock. Finally, Cowen reissued a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Three analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $703.04.

GE Vernova Price Performance

GE Vernova stock opened at $681.78 on Friday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $731.00. The company has a fifty day moving average price of $629.47 and a two-hundred day moving average price of $611.23. The company has a market cap of $184.98 billion, a PE ratio of 111.04, a P/E/G ratio of 2.69 and a beta of 1.67.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share 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 business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period last year, the company posted ($0.35) earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

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

GE Vernova 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.