Mutual Advisors LLC Grows Holdings in GE Vernova Inc. $GEV

Mutual Advisors LLC increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 107.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,643 shares of the company’s stock after acquiring an additional 3,447 shares during the quarter. Mutual Advisors LLC’s holdings in GE Vernova were worth $3,954,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in shares of GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares during the period. Hilltop National Bank acquired a new position in shares of GE Vernova in the 2nd quarter worth approximately $155,000. Stock Yards Bank & Trust Co. lifted its position in shares of GE Vernova by 6.1% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 2,844 shares of the company’s stock worth $1,505,000 after buying an additional 163 shares during the last quarter. Fairvoy Private Wealth LLC bought a new position in shares of GE Vernova during the second quarter valued at approximately $223,000. Finally, 111 Capital acquired a new stake in GE Vernova in the second quarter worth $813,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GEV. Wells Fargo & Company raised their price target on GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Oppenheimer reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Thursday. Wolfe Research raised shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research report on Wednesday, December 10th. Rothschild Redb downgraded GE Vernova from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Finally, Mizuho dropped their price target on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $752.96.

GE Vernova Stock Up 1.2%

Shares of GE Vernova stock opened at $726.04 on Monday. The stock has a market capitalization of $195.69 billion, a P/E ratio of 40.79, a price-to-earnings-growth ratio of 3.03 and a beta of 1.67. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $752.02. The company has a 50-day simple moving average of $652.63 and a 200 day simple moving average of $623.16.

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 the consensus estimate of $2.99 by $10.40. The business 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%. GE Vernova’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.73 earnings per share. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio is presently 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.