First United Bank & Trust Buys 925 Shares of GE Vernova Inc. $GEV

First United Bank & Trust increased its position in GE Vernova Inc. (NYSE:GEV) by 1,142.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,006 shares of the company’s stock after acquiring an additional 925 shares during the quarter. First United Bank & Trust’s holdings in GE Vernova were worth $619,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. WFA Asset Management Corp purchased a new stake in shares of GE Vernova in the second quarter worth $29,000. Howard Hughes Medical Institute bought a new stake in shares of GE Vernova during the 2nd quarter valued at about $31,000. Bay Harbor Wealth Management LLC grew its holdings in shares of GE Vernova by 537.5% during the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Monetary Management Group Inc. bought a new position in shares of GE Vernova in the second quarter worth approximately $32,000. Finally, Elevation Wealth Partners LLC increased its position in shares of GE Vernova by 47.2% in the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have issued reports on GEV. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Redburn Partners set a $475.00 price objective on shares of GE Vernova in a report on Wednesday, October 15th. Baird R W lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday. Cowen restated a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Finally, William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $703.04.

GE Vernova Stock Up 2.8%

NYSE GEV opened at $640.17 on Tuesday. The company has a 50-day simple moving average of $621.72 and a two-hundred day simple moving average of $608.79. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $731.00. The firm has a market cap of $173.69 billion, a price-to-earnings ratio of 104.26, a PEG ratio of 2.61 and a beta of 1.67.

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 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 during the quarter, compared to the consensus estimate of $9.15 billion. During the same period last year, the firm posted ($0.35) EPS. The company’s revenue was up 11.8% on a year-over-year basis. Equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be issued a $0.50 dividend. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio (DPR) is 32.57%.

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.