Congress Asset Management Co. Takes Position in GE Vernova Inc. $GEV

Congress Asset Management Co. purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 191,662 shares of the company’s stock, valued at approximately $125,265,000. Congress Asset Management Co. owned about 0.07% of GE Vernova as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of GEV. Jackson Grant Investment Advisers Inc. increased its stake in GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the period. Wealth Watch Advisors INC purchased a new stake in shares of GE Vernova during the third quarter valued at $25,000. Howard Hughes Medical Institute bought a new position in shares of GE Vernova in the second quarter worth about $31,000. Bay Harbor Wealth Management LLC grew its holdings in shares of GE Vernova by 537.5% in 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 during the last quarter. Finally, Monetary Management Group Inc. purchased a new position in GE Vernova in the 2nd quarter worth about $32,000.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $882.66 on Tuesday. The stock has a market cap of $237.90 billion, a price-to-earnings ratio of 49.59, a PEG ratio of 3.39 and a beta of 1.45. The firm’s 50-day moving average is $784.19 and its two-hundred day moving average is $674.79. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $920.63.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, beating the consensus estimate of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business had revenue of $10.96 billion during the quarter, compared to analyst estimates of $10.21 billion. During the same quarter in the previous year, the business posted $1.73 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GEV shares. Wall Street Zen upgraded shares of GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. UBS Group reaffirmed a “buy” rating on shares of GE Vernova in a research report on Thursday, January 29th. BMO Capital Markets reaffirmed an “outperform” rating and set a $785.00 price target on shares of GE Vernova in a research note on Thursday, January 29th. Susquehanna boosted their price target on GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a report on Thursday, January 29th. Finally, Barclays reissued an “overweight” rating and issued a $849.00 price objective on shares of GE Vernova in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $837.25.

GE Vernova Company 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.