Legacy Wealth Asset Management LLC Buys New Stake in GE Vernova Inc. $GEV

Legacy Wealth Asset Management LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 723 shares of the company’s stock, valued at approximately $687,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cornerstone Financial Management LLC purchased a new stake in GE Vernova in the 4th quarter valued at $25,000. Manning & Napier Advisors LLC lifted its position in GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after purchasing an additional 13 shares during the period. Parvin Asset Management LLC purchased a new position in GE Vernova in the second quarter worth $32,000. Motiv8 Investments LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at about $34,000. Finally, Financially Speaking Inc lifted its position in shares of GE Vernova by 1,666.7% during the 4th quarter. Financially Speaking Inc now owns 53 shares of the company’s stock valued at $35,000 after acquiring an additional 50 shares during the period.

GE Vernova Stock Performance

GEV opened at $1,003.83 on Friday. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The firm has a market capitalization of $267.35 billion, a P/E ratio of 28.73, a price-to-earnings-growth ratio of 3.46 and a beta of 1.14. The stock’s 50 day moving average price is $967.78 and its two-hundred day moving average price is $998.65. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter in the previous year, the business posted $1.86 EPS. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. On average, equities analysts forecast that GE Vernova Inc. will post 15.03 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, October 27th will be given a $0.50 dividend. The ex-dividend date is Tuesday, October 27th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is 5.72%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GEV. Royal Bank Of Canada upped their price objective on GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Glj Research initiated coverage on shares of GE Vernova in a research report on Monday, September 14th. They set a “sell” rating and a $470.00 price target for the company. Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Sanford C. Bernstein restated an “outperform” rating and set a $1,298.00 price target (up from $1,206.00) on shares of GE Vernova in a report on Tuesday, September 15th. Finally, Morgan Stanley lowered GE Vernova from an “overweight” rating to an “underweight” rating in a report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $1,165.87.

About GE Vernova

GE Vernova Inc (NYSE: GEV) is an energy technology company formed through the separation of General Electric’s energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.

GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.

The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.