PNC Financial Services Group Inc. Purchases 131,501 Shares of GE Vernova Inc. $GEV

PNC Financial Services Group Inc. lifted its position in GE Vernova Inc. (NYSE:GEV) by 67.2% in the third quarter, HoldingsChannel.com reports. The firm owned 327,044 shares of the company’s stock after acquiring an additional 131,501 shares during the period. PNC Financial Services Group Inc.’s holdings in GE Vernova were worth $201,099,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of GEV. Riverstone Advisors LLC bought a new position in GE Vernova during the third quarter worth about $213,000. Shepherd Financial Partners LLC lifted its position in shares of GE Vernova by 2.1% during the 3rd quarter. Shepherd Financial Partners LLC now owns 1,047 shares of the company’s stock worth $644,000 after buying an additional 22 shares during the period. Uniting Wealth Partners LLC acquired a new stake in GE Vernova in the 3rd quarter valued at $452,000. Investment Partners LTD. acquired a new position in GE Vernova during the third quarter worth $220,000. Finally, NorthStar Asset Management LLC NJ bought a new stake in shares of GE Vernova in the 3rd quarter worth about $222,000.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GEV. Weiss Ratings upgraded shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Morgan Stanley restated an “overweight” rating and set a $817.00 price target on shares of GE Vernova in a research report on Monday, January 26th. Wolfe Research upgraded GE Vernova from a “peer perform” rating to a “buy” rating in a research report on Wednesday, December 10th. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $930.00 price target on shares of GE Vernova in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $788.24.

GE Vernova Trading Down 1.8%

GE Vernova stock opened at $801.76 on Monday. The firm has a market capitalization of $216.10 billion, a P/E ratio of 45.04, a PEG ratio of 3.19 and a beta of 1.67. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $846.00. The business has a 50-day moving average of $689.84 and a 200-day moving average of $635.38.

GE Vernova (NYSE:GEV) last announced its quarterly 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 company 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 firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.73 EPS. Research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 5th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, January 5th. GE Vernova’s dividend 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.