Prospera Financial Services Inc Has $6.32 Million Stock Holdings in GE Vernova Inc. $GEV

Prospera Financial Services Inc raised its holdings in GE Vernova Inc. (NYSE:GEV) by 52.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,275 shares of the company’s stock after buying an additional 3,515 shares during the period. Prospera Financial Services Inc’s holdings in GE Vernova were worth $6,322,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC lifted its position in GE Vernova by 29.4% in the 4th 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of GE Vernova by 315.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 54,796 shares of the company’s stock valued at $27,727,000 after purchasing an additional 41,600 shares in the last quarter. Cypress Capital Group purchased a new stake in GE Vernova in the 2nd quarter valued at about $242,000. Welch Group LLC bought a new position in shares of GE Vernova in the second quarter valued at approximately $206,000. Finally, MGO One Seven LLC boosted its position in GE Vernova by 72.4% in the second quarter. MGO One Seven LLC now owns 6,471 shares of the company’s stock worth $3,424,000 after purchasing an additional 2,717 shares during the last quarter.

Analysts Set New Price Targets

Several research firms recently weighed in on GEV. JPMorgan Chase & Co. restated an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Susquehanna boosted their price objective on GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a research note on Thursday, January 29th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 10th. China Renaissance raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday, January 29th. Finally, Bank of America raised their price target on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. One investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Stock Performance

Shares of GEV stock opened at $790.62 on Wednesday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $814.86. The business’s fifty day moving average is $678.26 and its 200 day moving average is $631.83. The company has a market capitalization of $213.10 billion, a PE ratio of 44.42, a price-to-earnings-growth ratio of 3.19 and a beta of 1.67.

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

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 5th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s payout ratio is presently 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.