CoreCap Advisors LLC Has $3.08 Million Stock Holdings in GE Vernova Inc. $GEV

CoreCap Advisors LLC boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 109.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,006 shares of the company’s stock after purchasing an additional 2,618 shares during the quarter. CoreCap Advisors LLC’s holdings in GE Vernova were worth $3,078,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WFA Asset Management Corp acquired a new stake in shares of GE Vernova in the second quarter worth $29,000. 1248 Management LLC bought a new stake in GE Vernova in the 1st quarter valued at $31,000. Howard Hughes Medical Institute acquired a new stake in GE Vernova in the 2nd quarter worth $31,000. Bay Harbor Wealth Management LLC increased its holdings in shares of GE Vernova by 537.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the period. Finally, Monetary Management Group Inc. bought a new position in shares of GE Vernova during the 2nd quarter worth about $32,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GEV shares. Redburn Partners set a $475.00 target price on GE Vernova in a research report on Wednesday, October 15th. Oppenheimer upgraded GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 target price for the company in a research note on Wednesday, December 10th. UBS Group raised their target price on GE Vernova from $760.00 to $835.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Bank of America lifted their price target on shares of GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Finally, The Goldman Sachs Group boosted their price target on shares of GE Vernova from $735.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $695.19.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $662.38 on Thursday. The business’s fifty day moving average price is $618.74 and its two-hundred day moving average price is $605.43. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $731.00. The stock has a market capitalization of $179.72 billion, a price-to-earnings ratio of 107.88, a price-to-earnings-growth ratio of 2.87 and a beta of 1.67.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the previous year, the business posted ($0.35) earnings per share. The firm’s revenue was up 11.8% compared to the same quarter last year. Research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be paid a dividend of $0.50 per share. 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%. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s payout ratio is currently 32.57%.

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.