GE Vernova Inc. $GEV Shares Purchased by New Millennium Group LLC

New Millennium Group LLC boosted its position in GE Vernova Inc. (NYSE:GEV) by 144,866.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,698 shares of the company’s stock after acquiring an additional 8,692 shares during the period. GE Vernova comprises approximately 2.4% of New Millennium Group LLC’s holdings, making the stock its 14th biggest holding. New Millennium Group LLC’s holdings in GE Vernova were worth $5,349,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in GEV. WFA Asset Management Corp acquired a new position in GE Vernova in the second quarter valued at $29,000. Howard Hughes Medical Institute acquired a new stake in GE Vernova in the 2nd quarter worth about $31,000. Bay Harbor Wealth Management LLC grew its holdings in GE Vernova by 537.5% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the period. Monetary Management Group Inc. acquired a new position in shares of GE Vernova during the 2nd quarter valued at about $32,000. Finally, Elevation Wealth Partners LLC lifted its holdings in shares of GE Vernova by 47.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares during the period.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent analyst reports. Susquehanna boosted their target price on shares of GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a report on Thursday, January 29th. Wells Fargo & Company boosted 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. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price objective for the company in a report on Friday, January 30th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $930.00 price target on shares of GE Vernova in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $788.24.

GE Vernova Price Performance

Shares of NYSE GEV opened at $833.54 on Friday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $846.00. The company has a market capitalization of $224.66 billion, a price-to-earnings ratio of 46.83, a PEG ratio of 3.25 and a beta of 1.67. The business has a 50-day moving average of $701.82 and a 200-day moving average of $640.13.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping the consensus estimate 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 return on equity of 46.91% and a net margin of 12.83%.GE Vernova’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 EPS. Research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

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.