HB Wealth Management LLC Increases Position in GE Vernova Inc. $GEV

HB Wealth Management LLC raised its holdings in GE Vernova Inc. (NYSE:GEV) by 20.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,026 shares of the company’s stock after acquiring an additional 2,183 shares during the period. HB Wealth Management LLC’s holdings in GE Vernova were worth $8,010,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Howard Financial Services LTD. increased its holdings in shares of GE Vernova by 6.6% in the third quarter. Howard Financial Services LTD. now owns 802 shares of the company’s stock valued at $493,000 after purchasing an additional 50 shares during the last quarter. Spire Wealth Management boosted its stake in GE Vernova by 224.8% during the third quarter. Spire Wealth Management now owns 14,678 shares of the company’s stock worth $9,025,000 after buying an additional 10,159 shares during the last quarter. Realta Investment Advisors grew its holdings in GE Vernova by 15.3% in the 3rd quarter. Realta Investment Advisors now owns 2,326 shares of the company’s stock valued at $1,430,000 after buying an additional 309 shares in the last quarter. Signature Wealth Management Partners LLC increased its stake in shares of GE Vernova by 16.9% in the 3rd quarter. Signature Wealth Management Partners LLC now owns 753 shares of the company’s stock worth $463,000 after acquiring an additional 109 shares during the last quarter. Finally, CX Institutional increased its stake in shares of GE Vernova by 10.8% in the 3rd quarter. CX Institutional now owns 2,130 shares of the company’s stock worth $1,310,000 after acquiring an additional 208 shares during the last quarter.

Analyst Ratings Changes

GEV has been the topic of several recent research reports. Melius raised shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target on the stock in a research report on Monday, September 15th. Rothschild Redb downgraded shares of GE Vernova from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Oppenheimer raised shares of GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 price target for the company in a research note on Wednesday, December 10th. Wells Fargo & Company raised their price target on shares of GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $695.19.

GE Vernova Price Performance

Shares of GEV opened at $629.26 on Friday. The firm has a 50-day simple moving average of $619.83 and a two-hundred day simple moving average of $605.60. The stock has a market cap of $170.73 billion, a PE ratio of 102.49, a P/E/G ratio of 2.77 and a beta of 1.67. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $731.00.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). The company had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.35) earnings per share. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, January 5th. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. GE Vernova’s payout ratio is presently 32.57%.

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.