Fragasso Financial Advisors Inc Acquires 729 Shares of GE Vernova Inc. $GEV

Fragasso Financial Advisors Inc increased its stake in GE Vernova Inc. (NYSE:GEV) by 120.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,335 shares of the company’s stock after purchasing an additional 729 shares during the period. Fragasso Financial Advisors Inc’s holdings in GE Vernova were worth $1,341,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fermata Advisors LLC raised its holdings in shares of GE Vernova by 4.2% in the 3rd quarter. Fermata Advisors LLC now owns 496 shares of the company’s stock worth $471,000 after acquiring an additional 20 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its position in shares of GE Vernova by 9.2% during the third quarter. NorthCrest Asset Manangement LLC now owns 6,052 shares of the company’s stock valued at $6,048,000 after purchasing an additional 510 shares in the last quarter. Avior Wealth Management LLC grew its position in GE Vernova by 4.6% in the 3rd quarter. Avior Wealth Management LLC now owns 5,210 shares of the company’s stock worth $4,952,000 after purchasing an additional 227 shares in the last quarter. Baldwin Wealth Partners LLC MA lifted its position in shares of GE Vernova by 45.1% during the 3rd quarter. Baldwin Wealth Partners LLC MA now owns 550 shares of the company’s stock worth $523,000 after buying an additional 171 shares in the last quarter. Finally, Vertrix Wealth Management LLC boosted its stake in shares of GE Vernova by 43.9% in the 3rd quarter. Vertrix Wealth Management LLC now owns 1,081 shares of the company’s stock worth $1,027,000 after buying an additional 330 shares during the last quarter.

GE Vernova Price Performance

Shares of GEV traded down $7.91 during midday trading on Tuesday, reaching $988.89. The stock had a trading volume of 1,018,255 shares, compared to its average volume of 2,624,156. The company’s 50-day moving average is $967.54 and its 200 day moving average is $1,000.09. The company has a market capitalization of $263.37 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 3.48 and a beta of 1.14. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The business had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%. GE Vernova’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.86 EPS. On average, equities analysts predict that GE Vernova Inc. will post 15.03 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, October 27th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, October 27th. GE Vernova’s dividend payout ratio is currently 5.72%.

Analyst Ratings Changes

GEV has been the subject of several research analyst reports. Evercore reaffirmed an “outperform” rating and set a $1,350.00 target price on shares of GE Vernova in a research report on Thursday, October 1st. Royal Bank Of Canada boosted their target price on GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research note on Monday, August 3rd. Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Oppenheimer lifted their price target on GE Vernova from $1,303.00 to $1,338.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,165.87.

GE Vernova Profile

GE Vernova Inc (NYSE: GEV) is an energy technology company formed through the separation of General Electric’s energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.

GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.

The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.