CWA Asset Management Group LLC Has $2.23 Million Stock Holdings in GE Vernova Inc. $GEV

CWA Asset Management Group LLC raised its holdings in GE Vernova Inc. (NYSE:GEV) by 50.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,630 shares of the company’s stock after buying an additional 1,211 shares during the period. CWA Asset Management Group LLC’s holdings in GE Vernova were worth $2,232,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Sachetta LLC boosted its stake in GE Vernova by 10.7% during the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after purchasing an additional 16 shares during the last quarter. Good Life Advisors LLC raised its stake in shares of GE Vernova by 1.0% in the second quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after purchasing an additional 16 shares during the last quarter. Bell Investment Advisors Inc lifted its holdings in shares of GE Vernova by 6.7% in the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after purchasing an additional 16 shares in the last quarter. Northwest Wealth Management LLC boosted 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 valued at $286,000 after buying an additional 16 shares during the last quarter. Finally, AMG National Trust Bank grew its holdings in 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 buying an additional 17 shares in the last quarter.

Wall Street Analyst Weigh In

GEV has been the topic of a number of analyst reports. TD Cowen cut their price objective on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Robert W. Baird set a $816.00 price target on shares of GE Vernova in a report on Thursday, December 18th. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. Citigroup decreased their price objective 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. Finally, Rothschild & Co Redburn restated a “sell” rating and issued a $475.00 target price on shares of GE Vernova in a research note on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $691.11.

GE Vernova Stock Up 0.1%

GE Vernova stock opened at $680.46 on Tuesday. The firm has a 50 day moving average price of $614.72 and a 200-day moving average price of $603.62. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $731.00. The company has a market capitalization of $184.62 billion, a P/E ratio of 110.82, a P/E/G ratio of 2.85 and a beta of 1.67.

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

GE Vernova Increases Dividend

The firm also recently announced 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 is a boost from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

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.