Assetmark Inc. Buys 2,754 Shares of GE Vernova Inc. $GEV

Assetmark Inc. boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 16.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,359 shares of the company’s stock after purchasing an additional 2,754 shares during the quarter. Assetmark Inc.’s holdings in GE Vernova were worth $11,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WFA Asset Management Corp bought a new stake in shares of GE Vernova in the 2nd quarter valued at about $29,000. Howard Hughes Medical Institute purchased a new stake in GE Vernova during the second quarter valued at approximately $31,000. Bay Harbor Wealth Management LLC boosted its stake in GE Vernova by 537.5% in the third 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 in the last quarter. Monetary Management Group Inc. purchased a new position in GE Vernova in the second quarter worth $32,000. Finally, Elevation Wealth Partners LLC grew its holdings in GE Vernova by 47.2% in the third 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 last quarter.

GE Vernova Stock Down 1.8%

Shares of NYSE:GEV opened at $801.76 on Monday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $846.00. The stock has a market cap of $216.10 billion, a price-to-earnings ratio of 45.04, a PEG ratio of 3.19 and a beta of 1.67. The business has a 50-day moving average price of $689.84 and a 200-day moving average price of $635.38.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $10.21 billion. During the same quarter in the prior year, the company earned $1.73 EPS. GE Vernova’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently announced 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 is a boost from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, January 5th. GE Vernova’s payout ratio is presently 11.24%.

Analysts Set New Price Targets

Several analysts have recently commented on GEV shares. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. Wall Street Zen upgraded GE Vernova from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Jefferies Financial Group restated a “buy” rating and set a $930.00 price target on shares of GE Vernova in a research note on Thursday, January 29th. Mizuho set a $714.00 price objective on shares of GE Vernova in a research report on Tuesday, February 3rd. Finally, Wells Fargo & Company lifted their target price on shares of GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $788.24.

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.