Jaffetilchin Investment Partners LLC Cuts Stock Position in GE Vernova Inc. $GEV

Jaffetilchin Investment Partners LLC lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 19.7% during the 4th quarter, HoldingsChannel reports. The firm owned 3,853 shares of the company’s stock after selling 948 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in GE Vernova were worth $2,518,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Jackson Grant Investment Advisers Inc. grew its stake in shares of GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after buying an additional 31 shares in the last quarter. Wealth Watch Advisors INC purchased a new stake in shares of GE Vernova during the 3rd quarter valued at about $25,000. ORG Wealth Partners LLC lifted its holdings in shares of GE Vernova by 241.7% in the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after acquiring an additional 29 shares during the last quarter. Howard Hughes Medical Institute bought a new position in shares of GE Vernova in the 2nd quarter valued at about $31,000. Finally, Bay Harbor Wealth Management LLC grew its position in GE Vernova by 537.5% in the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GEV. Royal Bank Of Canada boosted their price objective on GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Erste Group Bank upgraded GE Vernova to a “strong-buy” rating in a report on Tuesday, March 24th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Mizuho set a $714.00 price target on GE Vernova in a report on Tuesday, February 3rd. Finally, Bank of America raised their price target on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $854.52.

GE Vernova Price Performance

GE Vernova stock opened at $816.15 on Tuesday. The firm has a market capitalization of $219.98 billion, a P/E ratio of 45.85, a price-to-earnings-growth ratio of 3.35 and a beta of 1.44. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $948.38. The company’s 50-day moving average is $805.62 and its 200 day moving average is $684.01.

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

GE Vernova Announces Dividend

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