GE Vernova Inc. $GEV is Oliver Luxxe Assets LLC’s 10th Largest Position

Oliver Luxxe Assets LLC reduced its position in GE Vernova Inc. (NYSE:GEV) by 34.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,599 shares of the company’s stock after selling 8,054 shares during the quarter. GE Vernova makes up approximately 1.5% of Oliver Luxxe Assets LLC’s portfolio, making the stock its 10th biggest position. Oliver Luxxe Assets LLC’s holdings in GE Vernova were worth $9,592,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Synergy Asset Management LLC lifted its position in shares of GE Vernova by 300.0% in the third quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock valued at $1,078,000 after acquiring an additional 1,413 shares in the last quarter. Pines Wealth Management LLC acquired a new position in GE Vernova in the 2nd quarter valued at about $408,000. Kercheville Advisors LLC lifted its holdings in GE Vernova by 238.3% in the 3rd quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock valued at $3,016,000 after purchasing an additional 3,455 shares in the last quarter. Dupree Financial Group LLC acquired a new stake in shares of GE Vernova during the 2nd quarter worth about $253,000. Finally, International Assets Investment Management LLC grew its holdings in shares of GE Vernova by 18.8% during the second quarter. International Assets Investment Management LLC now owns 3,903 shares of the company’s stock worth $2,065,000 after buying an additional 619 shares in the last quarter.

GE Vernova Stock Down 0.9%

GEV opened at $622.69 on Friday. The firm’s 50 day moving average is $620.58 and its 200-day moving average is $607.11. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $731.00. The firm has a market capitalization of $168.95 billion, a P/E ratio of 101.41, a P/E/G ratio of 2.61 and a beta of 1.67.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period in the previous year, the business posted ($0.35) earnings per share. GE Vernova’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be issued a $0.50 dividend. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s dividend payout ratio (DPR) is currently 32.57%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. 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. Royal Bank Of Canada reissued an “outperform” rating and set a $761.00 price target on shares of GE Vernova in a research note on Monday, December 22nd. Mizuho decreased their price objective on GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Evercore ISI initiated coverage on GE Vernova in a research note on Monday, December 15th. They issued an “outperform” rating and a $860.00 target price for the company. Finally, Citigroup cut their price objective on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $689.00.

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.