Sanders Morris Harris LLC Purchases New Position in GE Vernova Inc. $GEV

Sanders Morris Harris LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,992 shares of the company’s stock, valued at approximately $1,225,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. ARS Wealth Advisors Group LLC grew its stake in shares of GE Vernova by 11.2% during the third quarter. ARS Wealth Advisors Group LLC now owns 598 shares of the company’s stock worth $368,000 after buying an additional 60 shares during the last quarter. Fragasso Financial Advisors Inc bought a new position in shares of GE Vernova in the 3rd quarter valued at $293,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of GE Vernova during the 3rd quarter valued at $89,000. New England Research & Management Inc. grew its position in GE Vernova by 450.7% during the 3rd quarter. New England Research & Management Inc. now owns 3,910 shares of the company’s stock worth $2,404,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Venture Visionary Partners LLC grew its position in GE Vernova by 22.2% during the 3rd quarter. Venture Visionary Partners LLC now owns 4,748 shares of the company’s stock worth $2,920,000 after acquiring an additional 863 shares during the last quarter.

GE Vernova Price Performance

Shares of GEV stock opened at $686.35 on Wednesday. The stock has a market capitalization of $186.22 billion, a PE ratio of 111.78, a PEG ratio of 5.20 and a beta of 1.71. The business’s 50 day simple moving average is $600.25 and its 200 day simple moving average is $586.50. GE Vernova Inc. has a one year low of $252.25 and a one year high of $731.00.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the previous year, the business posted ($0.35) EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, research analysts expect 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. Shareholders of record on Monday, January 5th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s payout ratio is currently 16.29%.

Analysts Set New Price Targets

Several equities analysts have commented on GEV shares. UBS Group increased their target price on GE Vernova from $760.00 to $835.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Cowen reiterated a “buy” rating on shares of GE Vernova in a report on Thursday, October 23rd. Wolfe Research upgraded shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research report on Wednesday, December 10th. Evercore ISI began coverage on shares of GE Vernova in a report on Monday. They set an “outperform” rating and a $860.00 target price on the stock. Finally, Barclays raised their price target on shares of GE Vernova from $710.00 to $720.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $680.52.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.