Fifth Third Wealth Advisors LLC Purchases 1,606 Shares of GE Vernova Inc. $GEV

Fifth Third Wealth Advisors LLC increased its position in GE Vernova Inc. (NYSE:GEV) by 10.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,573 shares of the company’s stock after buying an additional 1,606 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in GE Vernova were worth $10,806,000 at the end of the most recent quarter.

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

GE Vernova Stock Up 3.8%

GEV opened at $678.29 on Friday. The business has a fifty day moving average of $612.80 and a 200 day moving average of $601.50. The stock has a market cap of $184.03 billion, a P/E ratio of 110.47, a PEG 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.

GE Vernova (NYSE:GEV) last released its 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). The business had revenue of $9.97 billion for 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 quarter last year, the business posted ($0.35) earnings per share. Equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a $0.50 dividend. 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. This represents a $2.00 annualized dividend and a yield of 0.3%. GE Vernova’s dividend payout ratio is presently 16.29%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GEV shares. BMO Capital Markets boosted their target price on shares of GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. TD Cowen decreased their price objective on GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. The Goldman Sachs Group lifted their target price on GE Vernova from $735.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Robert W. Baird set a $816.00 price target on GE Vernova in a report on Thursday, December 18th. Finally, Cowen reaffirmed a “buy” rating on shares of GE Vernova in a research note on Thursday, October 23rd. Four 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $691.11.

GE Vernova Company 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.