Prospera Financial Services Inc Has $6.32 Million Holdings in GE Vernova Inc. $GEV

Prospera Financial Services Inc increased its holdings in GE Vernova Inc. (NYSE:GEV) by 52.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,275 shares of the company’s stock after purchasing an additional 3,515 shares during the quarter. Prospera Financial Services Inc’s holdings in GE Vernova were worth $6,322,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Bay Harbor Wealth Management LLC increased its stake in shares of GE Vernova by 537.5% in the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the period. Elevation Wealth Partners LLC boosted its holdings in GE Vernova by 47.2% in the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after acquiring an additional 17 shares during the last quarter. Deseret Mutual Benefit Administrators increased its position in GE Vernova by 112.0% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock valued at $33,000 after purchasing an additional 28 shares during the period. WFA Asset Management Corp acquired a new stake in GE Vernova during the 2nd quarter valued at approximately $29,000. Finally, Howard Hughes Medical Institute bought a new position in GE Vernova during the 2nd quarter worth approximately $31,000.

GE Vernova Trading Down 1.4%

GEV opened at $790.62 on Wednesday. The company has a fifty day moving average price of $678.26 and a two-hundred day moving average price of $631.83. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $814.86. The company has a market cap of $213.10 billion, a P/E ratio of 44.42, a price-to-earnings-growth ratio of 3.19 and a beta of 1.67.

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

GE Vernova Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 5th were issued a dividend of $0.50 per share. 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 0.3%. The ex-dividend date was Monday, January 5th. GE Vernova’s dividend payout ratio is presently 11.24%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GEV shares. Wells Fargo & Company upped their price objective on shares of GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Wall Street Zen upgraded shares of GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. The Goldman Sachs Group increased their price target on GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Oppenheimer reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 29th. Finally, Wolfe Research upgraded GE Vernova from a “peer perform” rating to a “buy” rating in a research report on Wednesday, December 10th. 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 given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.