NewEdge Wealth LLC Raises Stock Position in GE Vernova Inc. $GEV

NewEdge Wealth LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 151.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,679 shares of the company’s stock after buying an additional 7,026 shares during the quarter. NewEdge Wealth LLC’s holdings in GE Vernova were worth $7,633,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GEV. J.W. Cole Advisors Inc. increased its holdings in shares of GE Vernova by 25.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock valued at $9,990,000 after acquiring an additional 3,278 shares during the period. Rakuten Investment Management Inc. acquired a new position in shares of GE Vernova during the 3rd quarter worth $18,601,000. US Bancorp DE grew its stake in shares of GE Vernova by 2.2% during the 3rd quarter. US Bancorp DE now owns 100,542 shares of the company’s stock worth $61,824,000 after purchasing an additional 2,163 shares during the period. Vanguard Group Inc. grew its stake in shares of GE Vernova by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock worth $15,259,028,000 after purchasing an additional 150,892 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of GE Vernova by 136.1% during the 3rd quarter. Nordea Investment Management AB now owns 561,213 shares of the company’s stock worth $341,038,000 after purchasing an additional 323,481 shares during the period.

GE Vernova Price Performance

GE Vernova stock opened at $1,040.75 on Monday. GE Vernova Inc. has a 52 week low of $387.03 and a 52 week high of $1,181.95. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The firm’s 50-day simple moving average is $933.83 and its 200 day simple moving average is $755.75. The firm has a market capitalization of $279.67 billion, a PE ratio of 30.32, a P/E/G ratio of 3.90 and a beta of 1.51.

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

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of recent analyst reports. BMO Capital Markets upped their price target on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Erste Group Bank raised shares of GE Vernova to a “strong-buy” rating in a research note on Tuesday, March 24th. Robert W. Baird upped their price target on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. BNP Paribas Exane cut shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price target on the stock. in a research note on Monday, April 27th. Finally, Barclays upped their price target on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $1,090.76.

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.