GE Vernova Inc. $GEV Shares Bought by US Bancorp DE

US Bancorp DE increased its holdings in GE Vernova Inc. (NYSE:GEV) by 2.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 100,542 shares of the company’s stock after acquiring an additional 2,163 shares during the period. US Bancorp DE’s holdings in GE Vernova were worth $61,824,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Jackson Grant Investment Advisers Inc. boosted its position in shares of GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the period. Bay Harbor Wealth Management LLC increased its position in shares of GE Vernova by 537.5% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Elevation Wealth Partners LLC increased its holdings in GE Vernova by 47.2% in the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after buying an additional 17 shares during the last quarter. Deseret Mutual Benefit Administrators raised its position in shares of GE Vernova by 112.0% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock worth $33,000 after acquiring an additional 28 shares in the last quarter. Finally, Howard Hughes Medical Institute acquired a new stake in GE Vernova during the second quarter worth approximately $31,000.

Wall Street Analyst Weigh In

GEV has been the topic of a number of research analyst reports. Wall Street Zen upgraded GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Morgan Stanley restated an “overweight” rating and issued a $817.00 target price on shares of GE Vernova in a research note on Monday, January 26th. Glj Research lifted their target price on shares of GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a report on Monday, January 12th. Bank of America increased their price target on shares of GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $788.24.

GE Vernova Trading Down 0.0%

GEV stock opened at $875.63 on Friday. The company’s 50-day moving average price is $721.73 and its 200 day moving average price is $647.20. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $894.93. The company has a market cap of $236.01 billion, a P/E ratio of 49.19, a P/E/G ratio of 3.49 and a beta of 1.67.

GE Vernova (NYSE:GEV) last posted 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. The company had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $1.73 EPS. On average, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, March 17th. 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.