Income Insurance Ltd Takes Position in GE Vernova Inc. $GEV

Income Insurance Ltd purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 816 shares of the company’s stock, valued at approximately $533,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GEV. Jackson Grant Investment Advisers Inc. lifted 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 purchasing an additional 31 shares in the last quarter. Wealth Watch Advisors INC purchased a new stake in GE Vernova during the third quarter valued at $25,000. Torren Management LLC purchased a new stake in GE Vernova during the fourth quarter valued at $26,000. ORG Wealth Partners LLC increased its position in 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 during the last quarter. Finally, Monetary Management Group Inc. purchased a new stake in GE Vernova during the second quarter valued at $32,000.

GE Vernova Stock Performance

NYSE:GEV opened at $1,040.75 on Friday. 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 Inc. has a 12-month low of $387.03 and a 12-month high of $1,181.95. The stock has a 50-day moving average price of $933.83 and a 200 day moving average price of $755.75. The stock has a market capitalization of $279.67 billion, a P/E 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 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. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the business posted $0.91 earnings per share. The firm’s revenue was up 17.0% on a year-over-year basis. Equities research analysts forecast that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th were given a dividend of $0.50 per share. 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 dividend payout ratio (DPR) is currently 5.83%.

Wall Street Analyst Weigh In

A number of analysts recently commented on GEV shares. Oppenheimer set a $1,303.00 price objective on GE Vernova in a research report on Thursday, April 23rd. Argus set a $1,300.00 price objective on GE Vernova in a research report on Monday, April 27th. Guggenheim upped their price objective on GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Mizuho set a $714.00 price objective on GE Vernova in a research report on Tuesday, February 3rd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $1,328.00 price objective on shares of GE Vernova in a research report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,090.76.

About GE Vernova

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.