GE Vernova Inc. $GEV Shares Bought by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 13.4% during the 4th quarter, HoldingsChannel reports. The firm owned 6,048 shares of the company’s stock after buying an additional 716 shares during the period. HighPoint Advisor Group LLC’s holdings in GE Vernova were worth $3,952,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. J.W. Cole Advisors Inc. raised its holdings in shares of GE Vernova by 25.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock worth $9,990,000 after acquiring an additional 3,278 shares during the period. Rakuten Investment Management Inc. purchased a new stake in GE Vernova in the 3rd quarter valued at about $18,601,000. US Bancorp DE raised its holdings in GE Vernova by 2.2% in the 3rd quarter. US Bancorp DE now owns 100,542 shares of the company’s stock valued at $61,824,000 after buying an additional 2,163 shares during the period. Vanguard Group Inc. raised its holdings in GE Vernova by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock valued at $15,259,028,000 after buying an additional 150,892 shares during the period. Finally, Nordea Investment Management AB raised its holdings in GE Vernova by 136.1% in the 3rd quarter. Nordea Investment Management AB now owns 561,213 shares of the company’s stock valued at $341,038,000 after buying an additional 323,481 shares during the period.

GE Vernova Stock Up 3.2%

Shares of NYSE:GEV opened at $1,073.63 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The firm has a market capitalization of $288.51 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 3.90 and a beta of 1.51. The firm’s 50-day moving average is $941.11 and its two-hundred day moving average is $762.34. GE Vernova Inc. has a 1 year low of $408.82 and a 1 year high of $1,181.95.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. The company had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. Analysts predict that GE Vernova Inc. will post 14.84 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio is 5.83%.

Wall Street Analyst Weigh In

GEV has been the topic of several research analyst reports. UBS Group restated a “buy” rating on shares of GE Vernova in a report on Thursday, January 29th. Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a report on Thursday, April 23rd. Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a report on Thursday, April 23rd. BMO Capital Markets boosted their price objective on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Finally, Robert W. Baird boosted their price objective on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,090.76.

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.