GE Vernova Inc. $GEV Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its position in GE Vernova Inc. (NYSE:GEV) by 67.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 327,044 shares of the company’s stock after acquiring an additional 131,501 shares during the period. PNC Financial Services Group Inc. owned approximately 0.12% of GE Vernova worth $201,099,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. WFA Asset Management Corp acquired a new stake in shares of GE Vernova in the second quarter valued at $29,000. Howard Hughes Medical Institute acquired a new stake in shares of GE Vernova during the second quarter valued at approximately $31,000. Bay Harbor Wealth Management LLC lifted its position 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 acquiring an additional 43 shares in the last quarter. Monetary Management Group Inc. acquired a new position in GE Vernova in the 2nd quarter worth approximately $32,000. Finally, Elevation Wealth Partners LLC grew its position in GE Vernova by 47.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GEV. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 target price for the company in a research report on Friday, January 30th. Mizuho set a $714.00 price target on GE Vernova in a report on Tuesday, February 3rd. Wolfe Research upgraded GE Vernova from a “peer perform” rating to a “buy” rating in a report on Wednesday, December 10th. Wells Fargo & Company raised 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. Finally, TD Cowen boosted their target price 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. One investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $788.24.

GE Vernova Stock Down 1.8%

NYSE:GEV opened at $801.76 on Monday. The company’s 50 day moving average is $689.84 and its 200-day moving average is $635.38. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $846.00. The firm has a market cap of $216.10 billion, a price-to-earnings ratio of 45.04, a P/E/G ratio of 3.19 and a beta of 1.67.

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

GE Vernova Increases Dividend

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