Concurrent Investment Advisors LLC Increases Stake in GE Vernova Inc. $GEV

Concurrent Investment Advisors LLC lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 10.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,364 shares of the company’s stock after purchasing an additional 780 shares during the period. Concurrent Investment Advisors LLC’s holdings in GE Vernova were worth $5,143,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in GEV. WFA Asset Management Corp bought a new position in shares of GE Vernova during the second quarter valued at about $29,000. Howard Hughes Medical Institute bought a new position in GE Vernova during the 2nd quarter worth approximately $31,000. Bay Harbor Wealth Management LLC increased its stake in GE Vernova by 537.5% in 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. Monetary Management Group Inc. purchased a new position in GE Vernova in the 2nd quarter worth approximately $32,000. Finally, Elevation Wealth Partners LLC lifted its position in GE Vernova by 47.2% in the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after purchasing an additional 17 shares during the last quarter.

GE Vernova Price Performance

Shares of NYSE GEV opened at $651.64 on Wednesday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $731.00. The stock has a market capitalization of $176.80 billion, a P/E ratio of 106.13, a P/E/G ratio of 2.68 and a beta of 1.67. The company’s 50-day moving average is $623.81 and its 200 day moving average is $609.71.

GE Vernova (NYSE:GEV) last posted 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%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.35) earnings per share. Research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current 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 given a dividend of $0.50 per share. This is an increase 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 32.57%.

Wall Street Analysts Forecast Growth

GEV has been the topic of several recent analyst reports. Jefferies Financial Group set a $830.00 target price on shares of GE Vernova in a report on Monday, December 22nd. Baird R W lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, January 9th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Glj Research raised their target price on GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Cowen restated a “buy” rating on shares of GE Vernova in a report on Thursday, October 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $703.04.

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.