Horizon Wealth Management LLC Takes Position in GE Vernova Inc. $GEV

Horizon Wealth Management LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 566 shares of the company’s stock, valued at approximately $370,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jackson Grant Investment Advisers Inc. increased its holdings in shares of GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares in the last quarter. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova during the third quarter valued at approximately $25,000. Torren Management LLC bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $26,000. ORG Wealth Partners LLC increased its holdings in shares of GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after acquiring an additional 29 shares in the last quarter. Finally, Monetary Management Group Inc. bought a new stake in shares of GE Vernova during the second quarter valued at approximately $32,000.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Oppenheimer set a $1,303.00 price objective on GE Vernova in a report on Thursday, April 23rd. Wells Fargo & Company upped their price target on GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Citigroup upped their price target on GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Robert W. Baird upped their price target on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Finally, Guggenheim upped their price target on GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,090.76.

GE Vernova Trading Up 0.1%

Shares of GE Vernova stock opened at $1,040.75 on Monday. The stock has a fifty day simple moving average of $933.83 and a 200 day simple moving average of $755.75. GE Vernova Inc. has a 12-month low of $387.03 and a 12-month high of $1,181.95. The company has a market capitalization of $279.67 billion, a P/E ratio of 30.32, a price-to-earnings-growth ratio of 3.90 and a beta of 1.51. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $15.49. The business had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.GE Vernova’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 earnings per share. On average, sell-side analysts anticipate that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

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.