WBI Investments LLC Acquires Shares of 713 GE Vernova Inc. $GEV

WBI Investments LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the third quarter, HoldingsChannel reports. The firm bought 713 shares of the company’s stock, valued at approximately $438,000.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its position in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after acquiring an additional 753 shares in the last quarter. Schnieders Capital Management LLC. boosted its position in shares of GE Vernova by 1.7% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock worth $828,000 after purchasing an additional 26 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in shares of GE Vernova by 11.6% during the 2nd quarter. Avantax Advisory Services Inc. now owns 9,155 shares of the company’s stock worth $4,844,000 after purchasing an additional 953 shares in the last quarter. Empowered Funds LLC grew its stake in shares of GE Vernova by 230.0% during the 2nd quarter. Empowered Funds LLC now owns 17,578 shares of the company’s stock worth $9,301,000 after purchasing an additional 12,251 shares during the period. Finally, First American Trust FSB acquired a new position in shares of GE Vernova during the 2nd quarter worth $216,000.

GE Vernova Trading Up 1.5%

NYSE:GEV opened at $856.81 on Thursday. The company has a market capitalization of $230.93 billion, a P/E ratio of 48.14, a price-to-earnings-growth ratio of 3.36 and a beta of 1.45. The firm has a 50-day moving average price of $769.86 and a two-hundred day moving average price of $668.41. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $894.93.

GE Vernova (NYSE:GEV) last released its quarterly 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 net margin of 12.83% and a return on equity of 46.91%. The business had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. During the same period in the prior year, the business earned $1.73 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s dividend payout ratio is 11.24%.

Analyst Ratings Changes

Several analysts recently commented on GEV shares. Mizuho set a $714.00 price objective on shares of GE Vernova in a research note on Tuesday, February 3rd. Oppenheimer restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 29th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. Wells Fargo & Company boosted their price target on GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Finally, China Renaissance upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $831.29.

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.