982 Shares in GE Vernova Inc. $GEV Purchased by Forefront Wealth Partners LLC

Forefront Wealth Partners LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 982 shares of the company’s stock, valued at approximately $604,000.

Several other hedge funds have also recently modified their holdings of GEV. Bay Harbor Wealth Management LLC increased its position in shares of GE Vernova by 537.5% during the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the last quarter. Elevation Wealth Partners LLC grew its stake in GE Vernova by 47.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after purchasing an additional 17 shares during the period. WFA Asset Management Corp purchased a new stake in shares of GE Vernova during the 2nd quarter valued at $29,000. Howard Hughes Medical Institute purchased a new stake in shares of GE Vernova during the 2nd quarter valued at $31,000. Finally, Monetary Management Group Inc. bought a new stake in shares of GE Vernova during the 2nd quarter worth $32,000.

GE Vernova Trading Down 0.6%

GE Vernova stock opened at $659.74 on Wednesday. The firm has a 50 day simple moving average of $608.20 and a 200 day simple moving average of $598.63. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $731.00. The firm has a market capitalization of $179.00 billion, a price-to-earnings ratio of 107.45, a P/E/G ratio of 5.06 and a beta of 1.71.

GE Vernova (NYSE:GEV) last posted its 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). The company had revenue of $9.97 billion for 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 company’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.35) EPS. On average, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current 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 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 dividend on an annualized basis and a dividend yield of 0.3%. GE Vernova’s payout ratio is currently 32.57%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Morgan Stanley raised their price objective on shares of GE Vernova from $710.00 to $822.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Jefferies Financial Group set a $830.00 target price on shares of GE Vernova in a research report on Monday, December 22nd. Rothschild & Co Redburn restated a “sell” rating and set a $475.00 price target on shares of GE Vernova in a research note on Wednesday, October 15th. Mizuho lowered their price target on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Finally, Melius raised GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective for the company in a report on Monday, September 15th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.