Trek Financial LLC Takes Position in GE Vernova Inc. $GEV

Trek Financial LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the third quarter, HoldingsChannel reports. The firm acquired 5,819 shares of the company’s stock, valued at approximately $3,578,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in GE Vernova by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock valued at $13,051,258,000 after purchasing an additional 271,958 shares during the period. State Street Corp increased its stake in shares of GE Vernova by 1.9% during the 2nd quarter. State Street Corp now owns 11,097,778 shares of the company’s stock worth $5,872,389,000 after purchasing an additional 206,650 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of GE Vernova by 2.2% in the second quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock worth $3,221,404,000 after buying an additional 129,315 shares during the last quarter. Norges Bank acquired a new position in GE Vernova during the second quarter valued at approximately $1,809,220,000. Finally, Invesco Ltd. raised its holdings in GE Vernova by 26.3% in the 2nd quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock worth $1,173,262,000 after acquiring an additional 462,038 shares during the period.

Analyst Ratings Changes

GEV has been the topic of a number of recent research reports. Redburn Partners set a $475.00 target price on GE Vernova in a research report on Wednesday, October 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GE Vernova in a report on Thursday. Glj Research boosted their price target on shares of GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Evercore ISI began coverage on shares of GE Vernova in a report on Monday, December 15th. They issued an “outperform” rating and a $860.00 target price on the stock. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $761.00 price target on shares of GE Vernova in a report on Monday, December 22nd. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $701.62.

GE Vernova Trading Down 0.7%

NYSE:GEV traded down $4.41 during trading hours on Friday, hitting $657.26. 2,004,595 shares of the company were exchanged, compared to its average volume of 2,449,235. The company has a fifty day simple moving average of $639.17 and a 200 day simple moving average of $616.62. GE Vernova Inc. has a one year low of $252.25 and a one year high of $731.00. The stock has a market capitalization of $178.33 billion, a price-to-earnings ratio of 107.05, a price-to-earnings-growth ratio of 2.81 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 (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.35) earnings per share. Equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders 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 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio is currently 32.57%.

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.