Empirical Asset Management LLC Boosts Position in GE Vernova Inc. $GEV

Empirical Asset Management LLC lifted its position in GE Vernova Inc. (NYSE:GEV) by 498.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,103 shares of the company’s stock after buying an additional 6,748 shares during the quarter. GE Vernova makes up approximately 0.8% of Empirical Asset Management LLC’s portfolio, making the stock its 26th biggest holding. Empirical Asset Management LLC’s holdings in GE Vernova were worth $4,983,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. grew its position in shares of GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. Howard Hughes Medical Institute bought a new stake in GE Vernova during the second quarter valued at $31,000. Bay Harbor Wealth Management LLC grew its position in GE Vernova by 537.5% during the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after buying an additional 43 shares in the last quarter. Monetary Management Group Inc. bought a new position in GE Vernova in the 2nd quarter worth about $32,000. Finally, Elevation Wealth Partners LLC increased its stake in 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 acquiring an additional 17 shares during the last quarter.

GE Vernova Stock Performance

Shares of GEV opened at $879.25 on Wednesday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $879.89. The firm has a market cap of $236.98 billion, a price-to-earnings ratio of 49.40, a PEG ratio of 3.31 and a beta of 1.67. The firm has a 50 day moving average price of $711.80 and a 200-day moving average price of $643.99.

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

GE Vernova Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. BMO Capital Markets reiterated an “outperform” rating and set a $785.00 target price on shares of GE Vernova in a research report on Thursday, January 29th. Wells Fargo & Company increased their price target on shares of GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Robert W. Baird set a $923.00 price objective on shares of GE Vernova and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Finally, Glj Research lifted their price objective on shares of GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $788.24.

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.