Commonwealth Equity Services LLC Purchases 1,668 Shares of GE Vernova Inc. $GEV

Commonwealth Equity Services LLC boosted its position in GE Vernova Inc. (NYSE:GEV) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,789 shares of the company’s stock after purchasing an additional 1,668 shares during the quarter. Commonwealth Equity Services LLC’s holdings in GE Vernova were worth $81,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of GEV. Vanguard Group Inc. boosted its stake 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 buying an additional 271,958 shares during the period. State Street Corp grew its holdings in shares of GE Vernova by 1.9% during 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 in the last quarter. Geode Capital Management LLC raised its stake in GE Vernova by 2.2% in 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 bought a new stake in GE Vernova during the second quarter valued at approximately $1,809,220,000. Finally, Invesco Ltd. grew its stake in GE Vernova by 26.3% in the 2nd quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock worth $1,173,262,000 after buying an additional 462,038 shares in the last quarter.

GE Vernova Stock Up 0.1%

Shares of NYSE GEV opened at $680.46 on Tuesday. The firm’s fifty day moving average is $614.72 and its 200 day moving average is $603.62. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $731.00. The company has a market cap of $184.62 billion, a price-to-earnings ratio of 110.82, a PEG ratio of 2.85 and a beta of 1.67.

GE Vernova (NYSE:GEV) last announced 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 net margin of 4.52% and a return on equity of 17.07%. The firm had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same period in the previous year, the company earned ($0.35) EPS. The company’s quarterly revenue was up 11.8% on a year-over-year basis. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio (DPR) is presently 16.29%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of GE Vernova from $760.00 to $835.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Redburn Partners set a $475.00 price target on GE Vernova in a research note on Wednesday, October 15th. Glj Research upped their price objective on GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Seaport Res Ptn lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Finally, Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price for the company in a research report on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average 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.