Oppenheimer & Co. Inc. Increases Stake in GE Vernova Inc. $GEV

Oppenheimer & Co. Inc. boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 10.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,550 shares of the company’s stock after purchasing an additional 1,355 shares during the period. Oppenheimer & Co. Inc.’s holdings in GE Vernova were worth $8,947,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bay Harbor Wealth Management LLC raised its holdings 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 worth $31,000 after buying an additional 43 shares during the period. Elevation Wealth Partners LLC grew its position in GE Vernova by 47.2% in the 3rd 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 stake in GE Vernova by 112.0% in the third quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock worth $33,000 after purchasing an additional 28 shares during the period. WFA Asset Management Corp purchased a new stake in GE Vernova in the second quarter worth $29,000. Finally, Howard Hughes Medical Institute bought a new stake in shares of GE Vernova during the second quarter worth $31,000.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GEV. Wall Street Zen upgraded shares of GE Vernova from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. UBS Group restated a “buy” rating on shares of GE Vernova in a report on Thursday, January 29th. TD Cowen upped their target price on GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Morgan Stanley restated an “overweight” rating and set a $817.00 price target on shares of GE Vernova in a research note on Monday, January 26th. Finally, Bank of America upped their price objective on shares of GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Stock Performance

Shares of GEV stock opened at $801.25 on Tuesday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $814.86. The firm has a market capitalization of $215.96 billion, a price-to-earnings ratio of 45.01, a PEG ratio of 3.10 and a beta of 1.67. The stock’s 50-day simple moving average is $674.49 and its 200-day simple moving average is $630.80.

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

GE Vernova Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 5th were 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 was Monday, January 5th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. 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.