735 Shares in GE Vernova Inc. $GEV Bought by Uniting Wealth Partners LLC

Uniting Wealth Partners LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 735 shares of the company’s stock, valued at approximately $452,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. WFA Asset Management Corp bought a new position in shares of GE Vernova during the second quarter worth about $29,000. Howard Hughes Medical Institute bought a new stake in GE Vernova in the second quarter valued at approximately $31,000. Bay Harbor Wealth Management LLC increased 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 during the period. Monetary Management Group Inc. bought a new position in GE Vernova during the 2nd quarter worth approximately $32,000. Finally, Elevation Wealth Partners LLC lifted its position 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 purchasing an additional 17 shares during the period.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Wall Street Zen raised shares of GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. BMO Capital Markets reiterated an “outperform” rating and set a $785.00 price target on shares of GE Vernova in a report on Thursday, January 29th. Jefferies Financial Group reissued a “buy” rating and issued a $930.00 price objective on shares of GE Vernova in a research report on Thursday, January 29th. Finally, Glj Research upped their target price on GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $788.24.

GE Vernova Trading Down 1.8%

GEV opened at $801.76 on Friday. The company has a fifty day moving average price of $689.84 and a two-hundred day moving average price of $635.51. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $846.00. The company has a market cap of $216.10 billion, a P/E ratio of 45.04, a price-to-earnings-growth ratio of 3.19 and a beta of 1.67.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 28th. The company reported $13.39 EPS 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 company had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. During the same period last year, the business posted $1.73 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, January 5th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, January 5th. GE Vernova’s payout ratio is 11.24%.

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.