Advisory Services Network LLC Raises Stock Holdings in GE Vernova Inc. $GEV

Advisory Services Network LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 23.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 30,579 shares of the company’s stock after acquiring an additional 5,813 shares during the quarter. Advisory Services Network LLC’s holdings in GE Vernova were worth $16,181,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GEV. Vanguard Group Inc. lifted its position in GE Vernova by 1.1% during the second quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock valued at $13,051,258,000 after purchasing an additional 271,958 shares during the last quarter. State Street Corp raised its position in shares of GE Vernova by 1.9% during the 2nd quarter. State Street Corp now owns 11,097,778 shares of the company’s stock valued at $5,872,389,000 after buying an additional 206,650 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of GE Vernova by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock valued at $3,221,404,000 after acquiring an additional 129,315 shares during the last quarter. Norges Bank purchased a new position in GE Vernova in the second quarter worth about $1,809,220,000. Finally, Invesco Ltd. increased its stake in GE Vernova by 26.3% during the second quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock worth $1,173,262,000 after acquiring an additional 462,038 shares during the last quarter.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $672.32 on Friday. The firm’s 50 day simple moving average is $597.06 and its 200-day simple moving average is $582.82. GE Vernova Inc. has a one year low of $252.25 and a one year high of $731.00. The firm has a market cap of $182.41 billion, a PE ratio of 109.50, a price-to-earnings-growth ratio of 5.04 and a beta of 1.71.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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). The firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the company earned ($0.35) EPS. Equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio is currently 16.29%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GEV shares. Barclays raised their price objective on GE Vernova from $710.00 to $720.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Redburn Partners set a $475.00 price target on GE Vernova in a research report on Wednesday, October 15th. Rothschild Redb cut shares of GE Vernova from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Bank of America increased their target price on shares of GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets lifted their price target on shares of GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $654.54.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.