Perfromance Wealth Partners LLC Purchases 1,408 Shares of GE Vernova Inc. $GEV

Perfromance Wealth Partners LLC lifted its position in GE Vernova Inc. (NYSE:GEV) by 1.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 94,271 shares of the company’s stock after acquiring an additional 1,408 shares during the period. GE Vernova makes up about 1.7% of Perfromance Wealth Partners LLC’s investment portfolio, making the stock its 11th largest position. Perfromance Wealth Partners LLC’s holdings in GE Vernova were worth $61,613,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GEV. Brighton Jones LLC grew its stake in shares of GE Vernova by 29.4% in the fourth 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. lifted its holdings in GE Vernova by 1.7% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after purchasing an additional 26 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in GE Vernova by 10.6% during the 2nd quarter. Guggenheim Capital LLC now owns 5,427 shares of the company’s stock valued at $2,872,000 after purchasing an additional 521 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in GE Vernova by 24.2% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 267 shares of the company’s stock valued at $141,000 after purchasing an additional 52 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in GE Vernova during the 2nd quarter valued at $258,000.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Barclays raised their price target on GE Vernova from $849.00 to $993.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. Oppenheimer reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday, January 29th. Morgan Stanley raised their price target on GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Glj Research raised their price target on GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $930.00 price target on shares of GE Vernova in a report on Thursday, January 29th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $863.61.

GE Vernova Stock Performance

GEV opened at $910.41 on Wednesday. GE Vernova Inc. has a fifty-two week low of $279.57 and a fifty-two week high of $948.38. The company has a market capitalization of $245.38 billion, a P/E ratio of 51.15, a P/E/G ratio of 3.54 and a beta of 1.43. The stock has a fifty day moving average of $832.45 and a 200-day moving average of $695.60.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping 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 company had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 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.