Perfromance Wealth Partners LLC Has $61.61 Million Stock Position in GE Vernova Inc. $GEV

Perfromance Wealth Partners LLC boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 1.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 94,271 shares of the company’s stock after buying an additional 1,408 shares during the period. GE Vernova makes up approximately 1.7% of Perfromance Wealth Partners LLC’s holdings, making the stock its 11th biggest holding. Perfromance Wealth Partners LLC’s holdings in GE Vernova were worth $61,613,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. raised its holdings in GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the period. Wealth Watch Advisors INC acquired a new stake in GE Vernova during the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC raised its holdings in GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after buying an additional 29 shares during the period. Bay Harbor Wealth Management LLC raised its holdings in GE Vernova by 537.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the period. Finally, Monetary Management Group Inc. acquired a new stake in GE Vernova during the 2nd quarter worth approximately $32,000.

GE Vernova Trading Up 1.5%

NYSE:GEV opened at $910.41 on Wednesday. GE Vernova Inc. has a 1-year low of $279.57 and a 1-year high of $948.38. The firm has a fifty day simple moving average of $832.45 and a 200 day simple moving average of $695.60. The stock has a market capitalization of $245.38 billion, a PE ratio of 51.15, a P/E/G ratio of 3.54 and a beta of 1.43.

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 the consensus estimate 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 analysts’ expectations of $10.21 billion. During the same period last year, the business earned $1.73 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 11.24%.

Wall Street Analyst Weigh In

Several brokerages have commented on GEV. Bank of America raised their target price on shares of GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Zacks Research upgraded shares of GE Vernova from a “hold” rating to a “strong-buy” rating in a report on Monday, March 30th. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price target for the company in a research note on Friday, January 30th. Morgan Stanley raised their price target on shares of GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of “Buy” and an average price target of $863.61.

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.