Prevail Innovative Wealth Advisors LLC Takes Position in GE Vernova Inc. $GEV

Prevail Innovative Wealth Advisors LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the third quarter, HoldingsChannel reports. The institutional investor bought 8,917 shares of the company’s stock, valued at approximately $5,483,000. GE Vernova comprises 1.1% of Prevail Innovative Wealth Advisors LLC’s portfolio, making the stock its 22nd biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC increased its stake in GE Vernova by 300.0% in the 3rd quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock valued at $1,078,000 after buying an additional 1,413 shares during the period. J.W. Cole Advisors Inc. boosted its stake in shares of GE Vernova by 25.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock valued at $9,990,000 after buying an additional 3,278 shares during the period. Kercheville Advisors LLC grew its holdings in shares of GE Vernova by 238.3% during the 3rd quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock valued at $3,016,000 after acquiring an additional 3,455 shares in the last quarter. Rakuten Investment Management Inc. purchased a new position in shares of GE Vernova during the 3rd quarter valued at $18,601,000. Finally, US Bancorp DE increased its stake in shares of GE Vernova by 2.2% in the third quarter. US Bancorp DE now owns 100,542 shares of the company’s stock worth $61,824,000 after acquiring an additional 2,163 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GEV. BMO Capital Markets reaffirmed an “outperform” rating and set a $785.00 price target on shares of GE Vernova in a research note on Thursday, January 29th. Jefferies Financial Group reissued a “buy” rating and issued a $930.00 price target on shares of GE Vernova in a research note on Thursday, January 29th. UBS Group restated a “buy” rating on shares of GE Vernova in a report on Thursday, January 29th. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price objective on the stock in a research report on Friday, January 30th. Finally, Robert W. Baird set a $923.00 target price on shares of GE Vernova and gave the company an “outperform” rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $805.25.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $790.00 on Friday. The company has a market cap of $212.93 billion, a PE ratio of 44.38, a price-to-earnings-growth ratio of 3.14 and a beta of 1.45. The firm has a fifty day moving average price of $743.08 and a two-hundred day moving average price of $656.12. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $894.93.

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

GE Vernova Announces Dividend

The company also recently disclosed 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 of this dividend is Tuesday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) 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.