Pacer Advisors Inc. Reduces Stock Position in GE Vernova Inc. $GEV

Pacer Advisors Inc. lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 15.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 23,726 shares of the company’s stock after selling 4,364 shares during the period. Pacer Advisors Inc.’s holdings in GE Vernova were worth $14,589,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. BSW Wealth Partners grew its holdings in shares of GE Vernova by 114.3% in the third quarter. BSW Wealth Partners now owns 1,470 shares of the company’s stock worth $904,000 after purchasing an additional 784 shares during the last quarter. Spirit of America Management Corp NY boosted its position in GE Vernova by 190.6% in the 3rd quarter. Spirit of America Management Corp NY now owns 4,650 shares of the company’s stock valued at $2,859,000 after buying an additional 3,050 shares during the period. Inspire Investing LLC grew its stake in GE Vernova by 32.2% in the 3rd quarter. Inspire Investing LLC now owns 7,316 shares of the company’s stock worth $4,499,000 after acquiring an additional 1,781 shares in the last quarter. Bar Harbor Wealth Management increased its position in shares of GE Vernova by 30.2% during the third quarter. Bar Harbor Wealth Management now owns 677 shares of the company’s stock worth $416,000 after acquiring an additional 157 shares during the period. Finally, Jeppson Wealth Management LLC purchased a new position in shares of GE Vernova during the third quarter worth approximately $223,000.

Analysts Set New Price Targets

GEV has been the topic of several research analyst reports. Bank of America increased their price objective on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price for the company in a report on Monday, September 15th. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Barclays lifted their price objective on GE Vernova from $710.00 to $720.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Finally, BMO Capital Markets upped their price objective on shares of GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $691.11.

GE Vernova Trading Down 0.5%

GEV opened at $663.65 on Friday. The firm has a market cap of $180.06 billion, a price-to-earnings ratio of 108.09, a PEG ratio of 5.06 and a beta of 1.71. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $731.00. The stock has a fifty day moving average price of $605.33 and a 200-day moving average price of $595.32.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. GE Vernova’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.35) EPS. On average, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, January 5th. This is a positive change 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%. GE Vernova’s dividend payout ratio is currently 32.57%.

GE Vernova 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.