Inspire Investing LLC Grows Stake in GE Vernova Inc. $GEV

Inspire Investing LLC boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 32.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,316 shares of the company’s stock after buying an additional 1,781 shares during the period. Inspire Investing LLC’s holdings in GE Vernova were worth $4,499,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. WFA Asset Management Corp bought a new position in shares of GE Vernova in the 2nd quarter worth $29,000. 1248 Management LLC bought a new position in GE Vernova in the first quarter valued at $31,000. Howard Hughes Medical Institute bought a new position in GE Vernova in the second quarter valued at $31,000. Bay Harbor Wealth Management LLC raised its position in GE Vernova by 537.5% during the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares in the last quarter. Finally, Monetary Management Group Inc. purchased a new position in shares of GE Vernova in the 2nd quarter worth about $32,000.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GEV. Glj Research raised their price objective on GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Robert W. Baird set a $816.00 price target on shares of GE Vernova in a research report on Thursday, December 18th. Oppenheimer upgraded shares of GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 price objective for the company in a report on Wednesday, December 10th. Evercore ISI started coverage on shares of GE Vernova in a research report on Monday, December 15th. They issued an “outperform” rating and a $860.00 target price on the stock. Finally, Cowen restated a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $691.11.

GE Vernova Stock Performance

NYSE GEV opened at $666.81 on Thursday. The stock has a market cap of $180.92 billion, a P/E ratio of 108.60, a price-to-earnings-growth ratio of 5.04 and a beta of 1.71. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $731.00. The stock has a 50 day simple moving average of $602.75 and a two-hundred day simple moving average of $592.62.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the prior year, the company earned ($0.35) EPS. GE Vernova’s revenue was up 11.8% compared to the same quarter last year. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The business also recently declared 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. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio is presently 32.57%.

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.