Harvest Portfolios Group Inc. Buys Shares of 3,631 GE Vernova Inc. $GEV

Harvest Portfolios Group Inc. purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,631 shares of the company’s stock, valued at approximately $2,233,000.

A number of other institutional investors also recently made changes to their positions in the stock. Good Life Advisors LLC raised its holdings in GE Vernova by 1.0% during the second quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after purchasing an additional 16 shares in the last quarter. Bell Investment Advisors Inc boosted its stake in GE Vernova by 6.7% during the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after purchasing an additional 16 shares in the last quarter. Northwest Wealth Management LLC increased its position in shares of GE Vernova by 3.6% during the 3rd quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock valued at $286,000 after purchasing an additional 16 shares during the period. AMG National Trust Bank raised its stake in shares of GE Vernova by 1.5% in the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock worth $606,000 after buying an additional 17 shares in the last quarter. Finally, Traphagen Investment Advisors LLC raised its stake in shares of GE Vernova by 1.2% in the 3rd quarter. Traphagen Investment Advisors LLC now owns 1,418 shares of the company’s stock worth $872,000 after buying an additional 17 shares in the last quarter.

Analyst Upgrades and Downgrades

GEV has been the subject of several research reports. Glj Research raised their target price on GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a research note on Monday, January 12th. China Renaissance raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday, January 29th. Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price objective for the company in a research report on Friday, January 30th. Wolfe Research raised shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Finally, Barclays reissued an “overweight” rating and set a $849.00 target price on shares of GE Vernova in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $788.24.

GE Vernova Price Performance

GEV stock opened at $872.64 on Friday. The firm has a market capitalization of $235.20 billion, a P/E ratio of 49.02, a P/E/G ratio of 3.48 and a beta of 1.67. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $894.93. The company’s 50 day simple moving average is $726.02 and its 200-day simple moving average is $648.68.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The firm had revenue of $10.96 billion during the quarter, compared to analyst estimates of $10.21 billion. During the same quarter last year, the business posted $1.73 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared 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 is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio 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.