Advisory Services Network LLC Sells 764 Shares of GE Vernova Inc. $GEV

Advisory Services Network LLC reduced its position in GE Vernova Inc. (NYSE:GEV) by 2.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,815 shares of the company’s stock after selling 764 shares during the quarter. Advisory Services Network LLC’s holdings in GE Vernova were worth $18,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of GEV. Northwest Wealth Management LLC raised its stake in shares of GE Vernova by 3.6% during the 3rd quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock valued at $286,000 after purchasing an additional 16 shares during the period. Traphagen Investment Advisors LLC lifted its position in GE Vernova by 1.2% during the third quarter. Traphagen Investment Advisors LLC now owns 1,418 shares of the company’s stock valued at $872,000 after purchasing an additional 17 shares during the last quarter. Navigoe LLC lifted its holdings in shares of GE Vernova by 20.2% during the 3rd quarter. Navigoe LLC now owns 101 shares of the company’s stock worth $62,000 after acquiring an additional 17 shares during the last quarter. Elevation Wealth Partners LLC boosted its holdings in shares of 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 in the last quarter. Finally, Tritonpoint Wealth LLC grew its position in GE Vernova by 1.7% during the third quarter. Tritonpoint Wealth LLC now owns 994 shares of the company’s stock valued at $611,000 after acquiring an additional 17 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GEV shares. China Renaissance raised GE Vernova to a “strong-buy” rating in a research note on Thursday, January 29th. Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price objective for the company in a report on Friday, January 30th. Erste Group Bank assumed coverage on GE Vernova in a research note on Thursday, March 5th. They issued a “buy” rating for the company. TD Cowen boosted their price objective on shares of GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Finally, Wolfe Research raised GE Vernova from a “peer perform” rating to a “buy” rating in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $831.29.

GE Vernova Stock Performance

GEV opened at $843.39 on Wednesday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $894.93. The company has a fifty day moving average of $765.97 and a 200 day moving average of $667.09. The stock has a market capitalization of $227.32 billion, a price-to-earnings ratio of 47.38, a PEG ratio of 3.29 and a beta of 1.44.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. The company had revenue of $10.96 billion during 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 was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 earnings per share. On average, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be given 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 dividend 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.