Wolverine Asset Management LLC Takes $615,000 Position in GE Vernova Inc. $GEV

Wolverine Asset Management LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the third quarter, according to its most recent filing with the SEC. The fund acquired 1,000 shares of the company’s stock, valued at approximately $615,000.

Several other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC increased its position in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares during the period. Sovran Advisors LLC boosted its position in shares of GE Vernova by 10.3% in the second quarter. Sovran Advisors LLC now owns 876 shares of the company’s stock valued at $464,000 after acquiring an additional 82 shares during the period. Signal Advisors Wealth LLC purchased a new position in GE Vernova during the second quarter valued at approximately $229,000. NorthCrest Asset Manangement LLC grew its stake in GE Vernova by 4.0% during the second quarter. NorthCrest Asset Manangement LLC now owns 1,015 shares of the company’s stock valued at $525,000 after acquiring an additional 39 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. bought a new stake in GE Vernova during the 2nd quarter worth approximately $312,000.

Wall Street Analyst Weigh In

Several brokerages have commented on GEV. Jefferies Financial Group set a $830.00 price target on shares of GE Vernova in a report on Monday, December 22nd. Wolfe Research upgraded GE Vernova from a “peer perform” rating to a “buy” rating in a research report on Wednesday, December 10th. Morgan Stanley lifted their price objective on GE Vernova from $710.00 to $822.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Bank of America boosted their target price on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Finally, Rothschild Redb cut GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $703.04.

GE Vernova Stock Up 6.2%

GEV opened at $681.78 on Friday. The stock has a market cap of $184.98 billion, a PE ratio of 111.04, a P/E/G ratio of 2.85 and a beta of 1.67. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $731.00. The business’s fifty day simple moving average is $629.47 and its 200 day simple moving average is $611.97.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period last year, the firm earned ($0.35) EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be paid a $0.50 dividend. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s payout ratio is currently 32.57%.

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.