L & S Advisors Inc Increases Position in GE Vernova Inc. $GEV

L & S Advisors Inc raised its position in shares of GE Vernova Inc. (NYSE:GEV) by 12.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 13,921 shares of the company’s stock after buying an additional 1,507 shares during the period. L & S Advisors Inc’s holdings in GE Vernova were worth $8,560,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. WFA Asset Management Corp acquired a new stake in GE Vernova in the second quarter valued at approximately $29,000. Howard Hughes Medical Institute purchased a new stake in shares of GE Vernova during the 2nd quarter valued at $31,000. Bay Harbor Wealth Management LLC lifted its holdings in shares of 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 last quarter. Monetary Management Group Inc. acquired a new stake in shares of GE Vernova in the 2nd quarter worth $32,000. Finally, Elevation Wealth Partners LLC grew its stake in GE Vernova by 47.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after buying an additional 17 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GEV shares. Mizuho set a $714.00 price objective on shares of GE Vernova in a report on Tuesday, February 3rd. Oppenheimer restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 29th. BMO Capital Markets reiterated an “outperform” rating and set a $785.00 price objective on shares of GE Vernova in a research note on Thursday, January 29th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Finally, Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price target for the company in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $788.24.

GE Vernova Stock Down 0.0%

Shares of GEV opened at $818.88 on Thursday. The company has a market capitalization of $220.71 billion, a price-to-earnings ratio of 46.00, a PEG ratio of 3.26 and a beta of 1.67. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $846.00. The stock’s 50-day moving average price is $699.24 and its 200-day moving average price is $638.78.

GE Vernova (NYSE:GEV) last announced 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 company had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. During the same period last year, the business earned $1.73 earnings per share. GE Vernova’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s payout ratio is currently 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.