Western Wealth Management LLC Purchases 645 Shares of GE Vernova Inc. $GEV

Western Wealth Management LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 16.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,567 shares of the company’s stock after acquiring an additional 645 shares during the quarter. Western Wealth Management LLC’s holdings in GE Vernova were worth $2,808,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. WFA Asset Management Corp bought a new stake in shares of GE Vernova in the second quarter valued at approximately $29,000. Howard Hughes Medical Institute bought a new stake in GE Vernova during the 2nd quarter valued at $31,000. Bay Harbor Wealth Management LLC lifted its position in shares of 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 acquiring an additional 43 shares in the last quarter. Monetary Management Group Inc. bought a new position in shares of GE Vernova in the second quarter worth $32,000. Finally, Elevation Wealth Partners LLC grew its position in shares of GE Vernova by 47.2% in 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.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of recent research reports. TD Cowen increased their price objective on GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. BMO Capital Markets reiterated an “outperform” rating and set a $785.00 price target on shares of GE Vernova in a research report on Thursday, January 29th. Weiss Ratings raised shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday. Barclays reaffirmed an “overweight” rating and set a $849.00 price objective on shares of GE Vernova in a research note on Monday, February 2nd. Finally, Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 target price on the stock in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $788.24.

GE Vernova Price Performance

GEV stock opened at $801.25 on Tuesday. The firm has a 50 day simple moving average of $674.49 and a two-hundred day simple moving average of $630.80. The stock has a market cap of $215.96 billion, a PE ratio of 45.01, a P/E/G ratio of 3.10 and a beta of 1.67. GE Vernova Inc. has a one year low of $252.25 and a one year high of $814.86.

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

GE Vernova Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 5th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio is presently 11.24%.

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.