Crossmark Global Holdings Inc. Purchases 675 Shares of GE Vernova Inc. $GEV

Crossmark Global Holdings Inc. lifted its stake in GE Vernova Inc. (NYSE:GEV) by 5.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,377 shares of the company’s stock after buying an additional 675 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in GE Vernova were worth $8,226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of GE Vernova during the 2nd quarter valued at approximately $1,809,220,000. Arrowstreet Capital Limited Partnership raised its stake in GE Vernova by 273.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock worth $798,126,000 after acquiring an additional 1,104,747 shares during the period. Qube Research & Technologies Ltd lifted its holdings in GE Vernova by 771.3% during the second quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock valued at $403,861,000 after purchasing an additional 675,629 shares in the last quarter. Invesco Ltd. lifted its holdings in GE Vernova by 26.3% during the second quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock valued at $1,173,262,000 after purchasing an additional 462,038 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its position in shares of GE Vernova by 66.0% in the second quarter. Raymond James Financial Inc. now owns 944,567 shares of the company’s stock worth $499,817,000 after purchasing an additional 375,677 shares during the period.

GE Vernova Stock Down 3.1%

Shares of GE Vernova stock opened at $790.00 on Friday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $894.93. The business has a 50-day moving average price of $743.08 and a 200-day moving average price of $655.74. The firm has a market cap of $212.93 billion, a price-to-earnings ratio of 44.38, a PEG ratio of 3.24 and a beta of 1.45.

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

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s dividend payout ratio is 11.24%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GEV shares. Susquehanna increased their price objective on shares of GE Vernova from $800.00 to $820.00 and gave the stock a “positive” rating in a research note on Thursday, January 29th. BMO Capital Markets restated an “outperform” rating and set a $785.00 target price on shares of GE Vernova in a research note on Thursday, January 29th. Oppenheimer reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday, January 29th. Wells Fargo & Company increased their price target on GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Finally, Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price target on the stock in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.