Centaurus Financial Inc. Increases Stake in GE Vernova Inc. $GEV

Centaurus Financial Inc. grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 31.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,369 shares of the company’s stock after purchasing an additional 799 shares during the quarter. Centaurus Financial Inc.’s holdings in GE Vernova were worth $2,072,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GEV. Jackson Grant Investment Advisers Inc. boosted its position in GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares during the last quarter. Wealth Watch Advisors INC purchased a new stake in GE Vernova during the 3rd quarter valued at about $25,000. Howard Hughes Medical Institute acquired a new stake in GE Vernova in the 2nd quarter valued at about $31,000. Bay Harbor Wealth Management LLC raised its holdings in GE Vernova by 537.5% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the last quarter. Finally, Monetary Management Group Inc. purchased a new position in GE Vernova in the 2nd quarter worth approximately $32,000.

GE Vernova Price Performance

Shares of NYSE GEV opened at $856.81 on Thursday. The company has a 50 day simple moving average of $769.86 and a 200-day simple moving average of $668.41. The company has a market capitalization of $230.93 billion, a P/E ratio of 48.14, a P/E/G ratio of 3.36 and a beta of 1.45. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $894.93.

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

GE Vernova Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wall Street Zen upgraded GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Barclays reiterated an “overweight” rating and set a $849.00 price objective on shares of GE Vernova in a research report on Monday, February 2nd. Bank of America boosted their price objective on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. BMO Capital Markets restated an “outperform” rating and issued a $785.00 target price on shares of GE Vernova in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a research note on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $831.29.

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.