GE Vernova Inc. $GEV Shares Bought by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 6.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,351 shares of the company’s stock after buying an additional 1,894 shares during the quarter. Apollon Wealth Management LLC’s holdings in GE Vernova were worth $19,893,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Lincoln Capital Corp acquired a new position in GE Vernova during the third quarter worth about $227,000. Bill Few Associates Inc. increased its stake in shares of GE Vernova by 40.7% during the 3rd quarter. Bill Few Associates Inc. now owns 719 shares of the company’s stock worth $442,000 after purchasing an additional 208 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. raised its position in shares of GE Vernova by 2.8% during the 3rd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 4,950 shares of the company’s stock worth $3,044,000 after purchasing an additional 135 shares during the last quarter. Lowe Wealth Advisors LLC lifted its stake in GE Vernova by 41.8% in the 3rd quarter. Lowe Wealth Advisors LLC now owns 129 shares of the company’s stock valued at $79,000 after buying an additional 38 shares in the last quarter. Finally, HBW Advisory Services LLC lifted its stake in GE Vernova by 204.4% in the 3rd quarter. HBW Advisory Services LLC now owns 2,761 shares of the company’s stock valued at $1,698,000 after buying an additional 1,854 shares in the last quarter.

GE Vernova Trading Down 0.5%

Shares of GE Vernova stock opened at $663.65 on Friday. The business’s fifty day moving average price is $605.33 and its 200 day moving average price is $595.32. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $731.00. The stock has a market capitalization of $180.06 billion, a P/E ratio of 108.09, a PEG ratio of 5.06 and a beta of 1.71.

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

GE Vernova Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders 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 yield of 0.3%. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s dividend payout ratio is presently 16.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Melius Research set a $740.00 price target on GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. BMO Capital Markets lifted their price objective on GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. Evercore ISI initiated coverage on shares of GE Vernova in a research note on Monday, December 15th. They issued an “outperform” rating and a $860.00 target price for the company. Redburn Partners set a $475.00 target price on shares of GE Vernova in a report on Wednesday, October 15th. Finally, Susquehanna lifted their price target on shares of GE Vernova from $750.00 to $775.00 and gave the stock a “positive” rating in a report on Wednesday, December 10th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $691.11.

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.