Cookson Peirce & Co. Inc. Acquires 1,332 Shares of GE Vernova Inc. $GEV

Cookson Peirce & Co. Inc. raised its holdings in GE Vernova Inc. (NYSE:GEV) by 4.2% during the third quarter, HoldingsChannel reports. The firm owned 33,219 shares of the company’s stock after acquiring an additional 1,332 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in GE Vernova were worth $20,426,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GEV. WFA Asset Management Corp bought a new position in GE Vernova in the second quarter valued at about $29,000. Howard Hughes Medical Institute bought a new position in shares of GE Vernova in the second quarter worth about $31,000. Bay Harbor Wealth Management LLC boosted its stake in shares of GE Vernova by 537.5% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares in the last quarter. Monetary Management Group Inc. bought a new stake in shares of GE Vernova during the 2nd quarter valued at approximately $32,000. Finally, Elevation Wealth Partners LLC grew its holdings in shares of GE Vernova by 47.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after purchasing an additional 17 shares during the last quarter.

GE Vernova Price Performance

Shares of GEV opened at $816.42 on Friday. The business has a 50-day moving average of $686.41 and a 200-day moving average of $634.43. The company has a market capitalization of $220.05 billion, a price-to-earnings ratio of 45.87, a price-to-earnings-growth ratio of 3.28 and a beta of 1.67. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $846.00.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. During the same quarter in the prior year, the firm posted $1.73 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current 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 paid a dividend of $0.50 per share. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, January 5th. GE Vernova’s payout ratio is 11.24%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Glj Research raised their target price on shares of GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Robert W. Baird set a $923.00 price target on GE Vernova and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Evercore boosted their price objective on GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Royal Bank Of Canada increased their target price on GE Vernova from $761.00 to $800.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Finally, Wall Street Zen raised GE Vernova from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $788.24.

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.