GE Vernova Inc. $GEV Shares Bought by Cerity Partners LLC

Cerity Partners LLC lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 13.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,748 shares of the company’s stock after purchasing an additional 10,454 shares during the quarter. Cerity Partners LLC’s holdings in GE Vernova were worth $53,341,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sachetta LLC grew its holdings in GE Vernova by 10.7% in the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after buying an additional 16 shares during the period. Good Life Advisors LLC boosted its position 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 acquiring an additional 16 shares during the last quarter. Bell Investment Advisors Inc grew its holdings in 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 during the period. Northwest Wealth Management LLC increased its position in GE Vernova by 3.6% during the third quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock worth $286,000 after purchasing an additional 16 shares during the last quarter. Finally, AMG National Trust Bank raised its stake 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 purchasing an additional 17 shares during the period.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $662.38 on Thursday. The company has a market cap of $179.72 billion, a P/E ratio of 107.88, a PEG ratio of 2.87 and a beta of 1.67. GE Vernova Inc. has a one year low of $252.25 and a one year high of $731.00. The business’s 50-day simple moving average is $618.74 and its 200 day simple moving average is $605.43.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The company had revenue of $9.97 billion during 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 firm’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.35) EPS. Analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The company 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. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. 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. GE Vernova’s dividend payout ratio (DPR) is 32.57%.

Analysts Set New Price Targets

Several research analysts recently weighed in on GEV shares. Morgan Stanley increased their target price on GE Vernova from $710.00 to $822.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. TD Cowen dropped their price target on GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Cowen reiterated a “buy” rating on shares of GE Vernova in a report on Thursday, October 23rd. Finally, Robert W. Baird set a $816.00 price target on shares of GE Vernova in a report on Thursday, December 18th. 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 assigned a Sell rating to the company’s stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $695.19.

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.