Pacific Point Advisors LLC Acquires New Position in GE Vernova Inc. $GEV

Pacific Point Advisors LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,500 shares of the company’s stock, valued at approximately $980,000.

A number of other institutional investors have also recently made changes to their positions in GEV. Brighton Jones LLC grew its holdings in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after purchasing an additional 753 shares in the last quarter. Schnieders Capital Management LLC. grew its holdings in shares of GE Vernova by 1.7% in the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after purchasing an additional 26 shares in the last quarter. Guggenheim Capital LLC lifted its stake in GE Vernova by 10.6% in the second quarter. Guggenheim Capital LLC now owns 5,427 shares of the company’s stock worth $2,872,000 after acquiring an additional 521 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in GE Vernova by 24.2% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 267 shares of the company’s stock worth $141,000 after acquiring an additional 52 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in GE Vernova in the second quarter worth approximately $258,000.

Analyst Ratings Changes

A number of research analysts recently issued reports on GEV shares. Mizuho set a $714.00 price target on shares of GE Vernova in a research note on Tuesday, February 3rd. Susquehanna lifted their price target on shares of GE Vernova from $800.00 to $820.00 and gave the stock a “positive” rating in a research note on Thursday, January 29th. Morgan Stanley lifted 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. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Finally, The Goldman Sachs Group lifted their price target on shares of GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, GE Vernova has a consensus rating of “Buy” and a consensus price target of $863.61.

GE Vernova Trading Up 1.5%

Shares of NYSE:GEV opened at $910.41 on Wednesday. The company 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 Inc. has a twelve month low of $279.57 and a twelve month high of $948.38. The firm has a 50 day simple moving average of $832.45 and a 200-day simple moving average of $695.60.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping the consensus estimate of $2.99 by $10.40. The business had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.73 EPS. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

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.