Perigon Wealth Management LLC Increases Position in GE Vernova Inc. $GEV

Perigon Wealth Management LLC lifted its stake in GE Vernova Inc. (NYSE:GEV) by 40.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,395 shares of the company’s stock after acquiring an additional 1,843 shares during the period. Perigon Wealth Management LLC’s holdings in GE Vernova were worth $3,932,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Sachetta LLC lifted its position in shares of GE Vernova by 10.7% during the second quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after buying an additional 16 shares during the last quarter. Good Life Advisors LLC boosted its stake in GE Vernova by 1.0% in the second quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock valued at $875,000 after acquiring an additional 16 shares in the last quarter. Bell Investment Advisors Inc grew its holdings in GE Vernova by 6.7% in the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock worth $135,000 after purchasing an additional 16 shares during the last quarter. Northwest Wealth Management LLC increased its position in shares of GE Vernova by 3.6% during the third quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock worth $286,000 after purchasing an additional 16 shares in the last quarter. Finally, AMG National Trust Bank increased its position in shares of GE Vernova by 1.5% during the second quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock worth $606,000 after purchasing an additional 17 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have recently weighed in on GEV shares. BMO Capital Markets raised 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 began coverage on GE Vernova in a report on Monday, December 15th. They issued an “outperform” rating and a $860.00 price target for the company. Royal Bank Of Canada restated an “outperform” rating and set a $761.00 price target on shares of GE Vernova in a research note on Monday, December 22nd. Rothschild & Co Redburn reaffirmed a “sell” rating and issued a $475.00 price objective on shares of GE Vernova in a research report on Wednesday, October 15th. Finally, Citigroup lowered their target price on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $691.11.

GE Vernova Stock Down 0.5%

Shares of NYSE:GEV opened at $663.65 on Monday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $731.00. The stock has a market cap of $180.06 billion, a price-to-earnings ratio of 108.09, a PEG ratio of 5.06 and a beta of 1.71. The business has a 50-day moving average price of $605.33 and a 200-day moving average price of $596.11.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share 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 business had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter last year, the company posted ($0.35) EPS. GE Vernova’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal 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 issued a $0.50 dividend. 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. This represents a $2.00 annualized dividend and a yield of 0.3%. GE Vernova’s dividend payout ratio is currently 16.29%.

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.