GE Vernova Inc. $GEV Stock Holdings Lifted by Angeles Wealth Management LLC

Angeles Wealth Management LLC increased its position in GE Vernova Inc. (NYSE:GEV) by 146.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,071 shares of the company’s stock after buying an additional 1,824 shares during the period. Angeles Wealth Management LLC’s holdings in GE Vernova were worth $1,888,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in GE Vernova by 0.6% in the third quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock worth $15,259,028,000 after purchasing an additional 150,892 shares in the last quarter. State Street Corp lifted its position in shares of GE Vernova by 1.9% in the second quarter. State Street Corp now owns 11,097,778 shares of the company’s stock worth $5,872,389,000 after buying an additional 206,650 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of GE Vernova by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock worth $3,221,404,000 after acquiring an additional 129,315 shares in the last quarter. Norges Bank acquired a new position in shares of GE Vernova during the 2nd quarter valued at about $1,809,220,000. Finally, Invesco Ltd. raised its stake in shares of GE Vernova by 26.3% in the 2nd quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock valued at $1,173,262,000 after acquiring an additional 462,038 shares in the last quarter.

GE Vernova Price Performance

Shares of GEV stock opened at $790.00 on Friday. GE Vernova Inc. has a one year low of $252.25 and a one year high of $894.93. The stock has a fifty day moving average price of $743.08 and a 200 day moving average price of $655.74. The stock has a market cap of $212.93 billion, a P/E ratio of 44.38, a price-to-earnings-growth ratio of 3.24 and a beta of 1.45.

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 analysts’ consensus estimates of $2.99 by $10.40. The company had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.73 EPS. Equities research analysts anticipate 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. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is currently 11.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays reissued an “overweight” rating and issued a $849.00 price target on shares of GE Vernova in a research report on Monday, February 2nd. Mizuho set a $714.00 target price on shares of GE Vernova in a report on Tuesday, February 3rd. TD Cowen upped their price target on shares of GE Vernova from $680.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $817.00 price target on shares of GE Vernova in a research report on Monday, January 26th. Finally, The Goldman Sachs Group lifted their price objective on GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $805.25.

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.