NBT Bank N A NY Raises Holdings in GE Vernova Inc. $GEV

NBT Bank N A NY lifted its position in GE Vernova Inc. (NYSE:GEV) by 90.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,503 shares of the company’s stock after purchasing an additional 1,659 shares during the quarter. NBT Bank N A NY’s holdings in GE Vernova were worth $2,154,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GEV. WFA Asset Management Corp bought a new stake in GE Vernova in the 2nd quarter worth approximately $29,000. Howard Hughes Medical Institute purchased a new position in shares of GE Vernova in the second quarter valued at $31,000. Bay Harbor Wealth Management LLC increased its position in GE Vernova by 537.5% in the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the last quarter. Monetary Management Group Inc. purchased a new stake in GE Vernova during the second quarter valued at $32,000. Finally, Elevation Wealth Partners LLC raised its stake in GE Vernova by 47.2% during the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after purchasing an additional 17 shares in the last quarter.

GE Vernova Price Performance

Shares of NYSE GEV opened at $681.78 on Friday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $731.00. The firm has a 50-day simple moving average of $629.47 and a two-hundred day simple moving average of $611.23. The company has a market cap of $184.98 billion, a P/E ratio of 111.04, a PEG ratio of 2.69 and a beta of 1.67.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the previous year, the company posted ($0.35) earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be paid a $0.50 dividend. The ex-dividend date is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. GE Vernova’s payout ratio is 32.57%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Citigroup lifted their price objective on shares of GE Vernova from $658.00 to $708.00 and gave the stock a “neutral” rating in a research note on Monday. The Goldman Sachs Group increased their price target on shares of GE Vernova from $735.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Wells Fargo & Company boosted their price objective on GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Morgan Stanley raised their price objective on GE Vernova from $710.00 to $822.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Finally, Cowen reiterated a “buy” rating on shares of GE Vernova in a report on Thursday, October 23rd. Three analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $703.04.

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.