Peterson Wealth Services Grows Stock Holdings in GE Vernova Inc. $GEV

Peterson Wealth Services grew its stake in GE Vernova Inc. (NYSE:GEV) by 111.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,007 shares of the company’s stock after purchasing an additional 1,058 shares during the period. Peterson Wealth Services’ holdings in GE Vernova were worth $1,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Synergy Asset Management LLC boosted its position in GE Vernova by 300.0% during the third quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock worth $1,078,000 after purchasing an additional 1,413 shares in the last quarter. Kercheville Advisors LLC raised its stake in shares of GE Vernova by 238.3% during the 3rd quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock worth $3,016,000 after buying an additional 3,455 shares during the last quarter. Dupree Financial Group LLC purchased a new stake in shares of GE Vernova in the 2nd quarter worth about $253,000. Rakuten Investment Management Inc. purchased a new position in GE Vernova during the 3rd quarter valued at about $18,601,000. Finally, Nordea Investment Management AB raised its position in GE Vernova by 136.1% during the third quarter. Nordea Investment Management AB now owns 561,213 shares of the company’s stock worth $341,038,000 after acquiring an additional 323,481 shares during the last quarter.

GE Vernova Trading Up 4.4%

NYSE GEV opened at $758.06 on Tuesday. The business’s 50-day moving average price is $656.20 and its 200 day moving average price is $624.47. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $762.36. The company has a market capitalization of $205.68 billion, a PE ratio of 42.59, a price-to-earnings-growth ratio of 3.03 and a beta of 1.67.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The company had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. During the same quarter in the prior year, the company posted $1.73 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 5th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, January 5th. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio is presently 11.24%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GEV shares. TD Cowen raised their price objective on shares of GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Jefferies Financial Group reiterated a “buy” rating and set a $930.00 target price on shares of GE Vernova in a report on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a report on Thursday, January 22nd. Susquehanna upped their price objective on GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a research report on Thursday. Finally, Mizuho dropped their price objective on GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $752.96.

GE Vernova Company 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.