First Trust Advisors LP Has $400.08 Million Holdings in GE Vernova Inc. $GEV

First Trust Advisors LP lifted its holdings in GE Vernova Inc. (NYSE:GEV) by 45.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 650,643 shares of the company’s stock after purchasing an additional 203,600 shares during the quarter. First Trust Advisors LP owned 0.24% of GE Vernova worth $400,080,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Modern Wealth Management LLC grew its position in GE Vernova by 6.8% in the third quarter. Modern Wealth Management LLC now owns 2,624 shares of the company’s stock valued at $1,614,000 after purchasing an additional 168 shares in the last quarter. SPX Gestao de Recursos Ltda lifted its position in GE Vernova by 187.0% during the 3rd quarter. SPX Gestao de Recursos Ltda now owns 28,700 shares of the company’s stock worth $17,648,000 after buying an additional 18,700 shares in the last quarter. Marietta Investment Partners LLC boosted its stake in shares of GE Vernova by 9.9% during the 3rd quarter. Marietta Investment Partners LLC now owns 11,569 shares of the company’s stock worth $7,114,000 after buying an additional 1,041 shares during the last quarter. Truepoint Inc. grew its holdings in shares of GE Vernova by 7.0% in the 3rd quarter. Truepoint Inc. now owns 783 shares of the company’s stock valued at $481,000 after acquiring an additional 51 shares in the last quarter. Finally, Bouchey Financial Group Ltd boosted its position in GE Vernova by 30.5% during the third quarter. Bouchey Financial Group Ltd now owns 697 shares of the company’s stock valued at $429,000 after purchasing an additional 163 shares during the last quarter.

GE Vernova Stock Performance

Shares of GEV stock opened at $790.00 on Friday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $894.93. The company has a market capitalization of $212.93 billion, a price-to-earnings ratio of 44.38, a PEG ratio of 3.24 and a beta of 1.45. The company has a 50-day simple moving average of $743.08 and a 200 day simple moving average of $655.74.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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 net margin of 12.83% and a return on equity of 46.91%. The firm had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. During the same period last year, the business posted $1.73 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Investors 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 yield of 0.3%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s dividend payout ratio (DPR) is presently 11.24%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GEV. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price objective on the stock in a research note on Friday, January 30th. TD Cowen upped their price target on shares of GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Wells Fargo & Company lifted their price objective on shares of GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. UBS Group restated a “buy” rating on shares of GE Vernova in a research note on Thursday, January 29th. Finally, Susquehanna upped their target price on shares of GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a report 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 assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $805.25.

GE Vernova 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.