Reaves W H & Co. Inc. Reduces Holdings in GE Vernova Inc. $GEV

Reaves W H & Co. Inc. reduced its stake in GE Vernova Inc. (NYSE:GEV) by 25.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,000 shares of the company’s stock after selling 5,000 shares during the period. Reaves W H & Co. Inc.’s holdings in GE Vernova were worth $9,224,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GEV. BridgePort Financial Solutions LLC bought a new position in shares of GE Vernova in the third quarter worth approximately $334,000. First National Trust Co boosted its position in GE Vernova by 5.1% during the 3rd quarter. First National Trust Co now owns 914 shares of the company’s stock valued at $562,000 after buying an additional 44 shares during the period. Wealthfront Advisers LLC grew its holdings in GE Vernova by 4.1% in the 3rd quarter. Wealthfront Advisers LLC now owns 34,468 shares of the company’s stock worth $21,194,000 after acquiring an additional 1,355 shares during the last quarter. Summit Asset Management LLC purchased a new position in shares of GE Vernova in the third quarter valued at about $226,000. Finally, Navellier & Associates Inc. bought a new position in shares of GE Vernova during the third quarter valued at about $4,614,000.

GE Vernova Trading Up 2.8%

Shares of GEV stock opened at $801.25 on Tuesday. The company’s fifty day moving average price is $674.49 and its 200-day moving average price is $630.80. The stock has a market cap of $215.96 billion, a PE ratio of 45.01, a price-to-earnings-growth ratio of 3.10 and a beta of 1.67. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $814.86.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) 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 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 company posted $1.73 EPS. GE Vernova’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share 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 given a $0.50 dividend. The ex-dividend date of this dividend was Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s payout ratio is presently 11.24%.

Analyst Ratings Changes

Several analysts recently issued reports on GEV shares. Weiss Ratings raised GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Mizuho set a $714.00 target price on GE Vernova in a research note on Tuesday, February 3rd. Oppenheimer reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 29th. Finally, Susquehanna boosted their price objective on shares of GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $788.24.

GE Vernova Company 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.