Parallel Advisors LLC Buys 1,635 Shares of GE Vernova Inc. $GEV

Parallel Advisors LLC increased its position in GE Vernova Inc. (NYSE:GEV) by 19.8% during the 3rd quarter, Holdings Channel reports. The firm owned 9,906 shares of the company’s stock after acquiring an additional 1,635 shares during the quarter. Parallel Advisors LLC’s holdings in GE Vernova were worth $6,091,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GEV. Synergy Asset Management LLC lifted its holdings in GE Vernova by 300.0% during the third quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock worth $1,078,000 after buying an additional 1,413 shares during the period. J.W. Cole Advisors Inc. increased its holdings in shares of GE Vernova by 25.3% during the third quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock valued at $9,990,000 after acquiring an additional 3,278 shares in the last quarter. Kercheville Advisors LLC increased its stake in GE Vernova by 238.3% during the 3rd quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock valued at $3,016,000 after purchasing an additional 3,455 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of GE Vernova in the 3rd quarter valued at $18,601,000. Finally, US Bancorp DE increased its position in shares of GE Vernova by 2.2% in the 3rd quarter. US Bancorp DE now owns 100,542 shares of the company’s stock valued at $61,824,000 after acquiring an additional 2,163 shares during the period.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $790.00 on Monday. The company has a market capitalization of $212.93 billion, a PE ratio of 44.38, a price-to-earnings-growth ratio of 3.14 and a beta of 1.45. The company’s fifty day moving average price is $743.08 and its 200 day moving average price is $656.48. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $894.93.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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. The company had revenue of $10.96 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.73 earnings per share. On average, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm 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 $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. GE Vernova’s dividend payout ratio is presently 11.24%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GEV. Mizuho set a $714.00 price objective on GE Vernova in a report on Tuesday, February 3rd. JPMorgan Chase & Co. reissued an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Royal Bank Of Canada increased their price objective on shares of GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Evercore boosted their target price on shares of GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Finally, Wells Fargo & Company increased their price target on GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. One 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 assigned a Sell rating to the stock. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $805.25.

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.