Dorsey Wright & Associates Boosts Stake in GE Vernova Inc. $GEV

Dorsey Wright & Associates lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 4.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,263 shares of the company’s stock after buying an additional 621 shares during the period. GE Vernova comprises approximately 2.2% of Dorsey Wright & Associates’ investment portfolio, making the stock its 8th biggest position. Dorsey Wright & Associates’ holdings in GE Vernova were worth $10,000,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of GE Vernova by 29.4% during 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. Schnieders Capital Management LLC. increased its holdings in GE Vernova by 1.7% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock worth $828,000 after purchasing an additional 26 shares in the last quarter. Foundations Investment Advisors LLC increased its holdings in GE Vernova by 9.1% in the 2nd quarter. Foundations Investment Advisors LLC now owns 2,620 shares of the company’s stock worth $1,387,000 after purchasing an additional 218 shares in the last quarter. Empower Advisory Group LLC bought a new position in GE Vernova in the second quarter valued at about $286,000. Finally, Avantax Advisory Services Inc. raised its position in GE Vernova by 11.6% in the second quarter. Avantax Advisory Services Inc. now owns 9,155 shares of the company’s stock valued at $4,844,000 after purchasing an additional 953 shares during the last quarter.

Analyst Upgrades and Downgrades

GEV has been the topic of several research reports. Barclays restated an “overweight” rating and set a $849.00 price target on shares of GE Vernova in a report on Monday, February 2nd. Wells Fargo & Company lifted their target price on shares of GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. UBS Group restated a “buy” rating on shares of GE Vernova in a research report on Thursday, January 29th. Royal Bank Of Canada raised their price target on shares of GE Vernova from $761.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Finally, China Renaissance upgraded shares of GE Vernova to a “strong-buy” rating in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $831.29.

GE Vernova Price Performance

GE Vernova stock opened at $843.39 on Wednesday. The stock’s 50 day moving average is $765.97 and its 200 day moving average is $667.09. GE Vernova Inc. has a one year low of $252.25 and a one year high of $894.93. The firm has a market cap of $227.32 billion, a P/E ratio of 47.38, a P/E/G ratio of 3.29 and a beta of 1.44.

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

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. 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.