Western Wealth Management LLC Acquires 645 Shares of GE Vernova Inc. $GEV

Western Wealth Management LLC grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 16.4% during the third quarter, Holdings Channel reports. The institutional investor owned 4,567 shares of the company’s stock after purchasing an additional 645 shares during the quarter. Western Wealth Management LLC’s holdings in GE Vernova were worth $2,808,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. WFA Asset Management Corp purchased a new position in GE Vernova in the 2nd quarter worth approximately $29,000. Howard Hughes Medical Institute purchased a new position in shares of GE Vernova in the second quarter worth $31,000. Bay Harbor Wealth Management LLC raised its holdings 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 buying an additional 43 shares during 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 boosted its position in GE Vernova by 47.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after buying an additional 17 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GEV. UBS Group reaffirmed a “buy” rating on shares of GE Vernova in a research note on Thursday, January 29th. Wells Fargo & Company upped their price target on GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Jefferies Financial Group reiterated a “buy” rating and issued a $930.00 price objective on shares of GE Vernova in a research report on Thursday, January 29th. BMO Capital Markets restated an “outperform” rating and set a $785.00 target price on shares of GE Vernova in a report on Thursday, January 29th. Finally, Bank of America lifted their price target on shares of GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $801.25 on Tuesday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $814.86. The company has a 50-day moving average of $674.49 and a 200 day moving average of $630.80. The firm has a market cap of $215.96 billion, a price-to-earnings ratio of 45.01, a PEG ratio of 3.10 and a beta of 1.67.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $10.40. The firm had revenue of $10.96 billion during the quarter, compared to analyst estimates 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 was up 3.8% on a year-over-year basis. During the same period last year, the business earned $1.73 earnings per share. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 5th were paid 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 dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, January 5th. GE Vernova’s payout ratio is currently 11.24%.

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.