Advisors Capital Management LLC Purchases 773 Shares of GE Vernova Inc. $GEV

Advisors Capital Management LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 19.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,648 shares of the company’s stock after buying an additional 773 shares during the quarter. Advisors Capital Management LLC’s holdings in GE Vernova were worth $2,858,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. WFA Asset Management Corp purchased a new position in shares of GE Vernova in the second quarter worth $29,000. Howard Hughes Medical Institute bought a new stake in GE Vernova during the second quarter worth approximately $31,000. Bay Harbor Wealth Management LLC increased its position 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 valued at $31,000 after purchasing an additional 43 shares during the last quarter. Monetary Management Group Inc. purchased a new stake in shares of GE Vernova in the second quarter valued at $32,000. Finally, Elevation Wealth Partners LLC raised its position in GE Vernova by 47.2% in the 3rd 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 period.

Analyst Ratings Changes

Several analysts have recently weighed in on GEV shares. Glj Research lifted their target price on GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Jefferies Financial Group reaffirmed a “buy” rating and set a $930.00 target price on shares of GE Vernova in a research report on Thursday, January 29th. Wall Street Zen raised shares of GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Susquehanna upped their target price on GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a research report on Thursday, January 29th. Finally, BMO Capital Markets restated an “outperform” rating and set a $785.00 price target on shares of GE Vernova in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $788.24.

GE Vernova Trading Up 2.0%

GEV stock opened at $833.54 on Friday. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $846.00. The stock has a market cap of $224.66 billion, a price-to-earnings ratio of 46.83, a PEG ratio of 3.25 and a beta of 1.67. The business’s 50-day moving average is $701.82 and its 200 day moving average is $640.13.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. The company had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 EPS. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s payout ratio is currently 11.24%.

About GE Vernova

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.