GE Vernova Inc. $GEV is Virtus Wealth Solutions LLC’s 7th Largest Position

Virtus Wealth Solutions LLC increased its stake in GE Vernova Inc. (NYSE:GEV) by 1,275.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,537 shares of the company’s stock after purchasing an additional 30,172 shares during the quarter. GE Vernova makes up approximately 3.9% of Virtus Wealth Solutions LLC’s investment portfolio, making the stock its 7th biggest position. Virtus Wealth Solutions LLC’s holdings in GE Vernova were worth $20,007,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of GEV. Brighton Jones LLC lifted its position 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 buying an additional 753 shares in the last quarter. Schnieders Capital Management LLC. raised its stake in GE Vernova by 1.7% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock worth $828,000 after acquiring an additional 26 shares during the period. Advisory Alpha LLC purchased a new position in GE Vernova during the second quarter valued at approximately $389,000. First National Trust Co boosted its position in shares of GE Vernova by 2.5% in the second quarter. First National Trust Co now owns 870 shares of the company’s stock worth $460,000 after purchasing an additional 21 shares during the period. Finally, Howard Capital Management Inc. boosted its position in shares of GE Vernova by 33.8% in the second quarter. Howard Capital Management Inc. now owns 1,952 shares of the company’s stock worth $1,033,000 after purchasing an additional 493 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GEV shares. China Renaissance upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. Citigroup lifted their price objective on shares of GE Vernova from $708.00 to $779.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Royal Bank Of Canada upped their target price on shares of GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Finally, Susquehanna raised their target price on shares of GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $788.24.

GE Vernova Stock Performance

Shares of GEV opened at $874.61 on Thursday. The stock has a market capitalization of $235.73 billion, a PE ratio of 49.14, a P/E/G ratio of 3.50 and a beta of 1.67. The company’s fifty day moving average is $716.98 and its 200 day moving average is $645.60. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $894.93.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping 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 analysts’ expectations of $10.21 billion. During the same period last year, the company posted $1.73 EPS. The business’s revenue was up 3.8% on a year-over-year basis. As a group, research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s payout ratio is presently 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.