Advisors Asset Management Inc. Boosts Holdings in GE Vernova Inc. $GEV

Advisors Asset Management Inc. grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 9.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,914 shares of the company’s stock after purchasing an additional 3,171 shares during the period. Advisors Asset Management Inc.’s holdings in GE Vernova were worth $23,313,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Good Life Advisors LLC lifted its position in GE Vernova by 1.0% during the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after acquiring an additional 16 shares during the period. Bell Investment Advisors Inc raised its stake in shares of GE Vernova by 6.7% in the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock worth $135,000 after purchasing an additional 16 shares during the last quarter. Northwest Wealth Management LLC raised its stake in shares of GE Vernova by 3.6% in the third quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock worth $286,000 after purchasing an additional 16 shares during the last quarter. AMG National Trust Bank lifted its holdings in shares of GE Vernova by 1.5% during the second quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock worth $606,000 after purchasing an additional 17 shares during the period. Finally, Graney & King LLC boosted its position in GE Vernova by 2.4% in the second quarter. Graney & King LLC now owns 722 shares of the company’s stock valued at $382,000 after buying an additional 17 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Rothschild & Co Redburn set a $475.00 price objective on shares of GE Vernova in a report on Wednesday, October 15th. Wall Street Zen raised shares of GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Mizuho set a $714.00 price target on GE Vernova in a research report on Tuesday, February 3rd. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Finally, Oppenheimer restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $788.24.

GE Vernova Stock Performance

NYSE GEV opened at $790.62 on Wednesday. GE Vernova Inc. has a one year low of $252.25 and a one year high of $814.86. The business has a fifty day moving average price of $678.26 and a 200 day moving average price of $631.83. The company has a market cap of $213.10 billion, a P/E ratio of 44.42, a P/E/G ratio of 3.19 and a beta of 1.67.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share (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 company had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. During the same quarter in the prior year, the company earned $1.73 EPS. GE Vernova’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 5th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, January 5th. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio is 11.24%.

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.