WealthPLAN Partners LLC Takes $717,000 Position in GE Vernova Inc. $GEV

WealthPLAN Partners LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,166 shares of the company’s stock, valued at approximately $717,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GEV. Sachetta LLC grew its holdings in shares of GE Vernova by 10.7% during the second quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after buying an additional 16 shares during the last quarter. Good Life Advisors LLC raised its holdings in shares of GE Vernova by 1.0% in the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after acquiring an additional 16 shares during the last quarter. Bell Investment Advisors Inc lifted its position in GE Vernova by 6.7% in the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after acquiring an additional 16 shares in the last quarter. Northwest Wealth Management LLC boosted its stake in GE Vernova by 3.6% during the 3rd quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock valued at $286,000 after purchasing an additional 16 shares during the last quarter. Finally, AMG National Trust Bank increased its holdings in GE Vernova by 1.5% during the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock worth $606,000 after purchasing an additional 17 shares in the last quarter.

GE Vernova Stock Down 1.2%

GEV opened at $644.54 on Thursday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $731.00. The company’s 50-day moving average price is $625.50 and its two-hundred day moving average price is $609.95. The stock has a market cap of $174.88 billion, a price-to-earnings ratio of 104.97, a PEG ratio of 2.73 and a beta of 1.67.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the previous year, the company posted ($0.35) EPS. GE Vernova’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 annualized dividend and a yield of 0.3%. GE Vernova’s payout ratio is 32.57%.

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent research reports. Glj Research upped their price target on GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a report on Monday. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 10th. Citigroup upped their target price on shares of GE Vernova from $658.00 to $708.00 and gave the stock a “neutral” rating in a research note on Monday. BMO Capital Markets boosted their price target on shares of GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Finally, Susquehanna upped their price objective on shares of GE Vernova from $750.00 to $775.00 and gave the stock a “positive” rating in a research report on Wednesday, December 10th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $703.04.

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.