729 GE Vernova Inc. $GEV Shares Acquired by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 120.3% during the third quarter, HoldingsChannel reports. 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 SEC filing.

Other hedge funds have also bought and sold shares of the company. Fermata Advisors LLC grew its position in 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 purchasing an additional 20 shares during the period. NorthCrest Asset Manangement LLC lifted its position in 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 stake in shares of GE Vernova by 4.6% during the 3rd quarter. Avior Wealth Management LLC now owns 5,210 shares of the company’s stock valued at $4,952,000 after acquiring an additional 227 shares during the period. Baldwin Wealth Partners LLC MA increased its stake in shares of GE Vernova by 45.1% in the third quarter. Baldwin Wealth Partners LLC MA now owns 550 shares of the company’s stock worth $523,000 after purchasing an additional 171 shares in the last quarter. Finally, Vertrix Wealth Management LLC lifted its stake in shares of GE Vernova by 43.9% during the 3rd quarter. Vertrix Wealth Management LLC now owns 1,081 shares of the company’s stock valued at $1,027,000 after buying an additional 330 shares in the last quarter.

GE Vernova Stock Down 0.8%

GE Vernova stock traded down $7.91 during midday trading on Tuesday, reaching $988.89. The company’s stock had a trading volume of 1,018,255 shares, compared to its average volume of 2,624,156. The stock has a market capitalization of $263.37 billion, a P/E ratio of 28.28, a PEG ratio of 3.48 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The stock’s 50-day simple moving average is $967.54 and its 200-day simple moving average is $1,000.09. GE Vernova Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The company had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. GE Vernova’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period last year, the firm earned $1.86 earnings per share. On average, sell-side analysts expect that GE Vernova Inc. will post 15.03 EPS for the current year.

GE Vernova Announces Dividend

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

Analyst Ratings Changes

GEV has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Vernova in a research note on Tuesday, July 21st. The Goldman Sachs Group upgraded shares of GE Vernova from a “buy” rating to a “market outperform” rating in a research report on Monday, September 14th. TD Cowen lifted their target price on GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Glj Research initiated coverage on shares of GE Vernova in a research note on Monday, September 14th. They set a “sell” rating and a $470.00 price target for the company. Finally, Mizuho increased their price target on GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,165.87.

About GE Vernova

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.