NBT Bank N A NY Buys 1,659 Shares of GE Vernova Inc. $GEV

NBT Bank N A NY raised its stake in GE Vernova Inc. (NYSE:GEV) by 90.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,503 shares of the company’s stock after buying an additional 1,659 shares during the period. NBT Bank N A NY’s holdings in GE Vernova were worth $2,154,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. WFA Asset Management Corp purchased a new stake in shares of GE Vernova in the second quarter valued at approximately $29,000. Howard Hughes Medical Institute purchased a new position in GE Vernova during the 2nd quarter worth $31,000. Bay Harbor Wealth Management LLC raised its position in GE Vernova by 537.5% during 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 in the last quarter. Monetary Management Group Inc. bought a new stake in GE Vernova during the 2nd quarter valued at $32,000. Finally, Elevation Wealth Partners LLC lifted its holdings in shares of GE Vernova by 47.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after buying an additional 17 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GEV shares. Morgan Stanley raised their price target on GE Vernova from $710.00 to $822.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Evercore ISI began coverage on shares of GE Vernova in a research report on Monday, December 15th. They set an “outperform” rating and a $860.00 target price on the stock. TD Cowen lowered their price target on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Jefferies Financial Group set a $830.00 price objective on shares of GE Vernova in a report on Monday, December 22nd. Finally, Seaport Res Ptn downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $703.04.

GE Vernova Stock Up 6.2%

Shares of GE Vernova stock opened at $681.78 on Friday. The company has a market cap of $184.98 billion, a P/E ratio of 111.04, a PEG ratio of 2.69 and a beta of 1.67. The firm’s 50 day moving average price is $629.47 and its 200-day moving average price is $611.23. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $731.00.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.35) EPS. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

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