Spire Wealth Management Raises Stock Holdings in GE Vernova Inc. $GEV

Spire Wealth Management boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 224.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,678 shares of the company’s stock after acquiring an additional 10,159 shares during the quarter. Spire Wealth Management’s holdings in GE Vernova were worth $9,025,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of GEV. Realta Investment Advisors lifted its position in shares of GE Vernova by 15.3% during the third quarter. Realta Investment Advisors now owns 2,326 shares of the company’s stock worth $1,430,000 after purchasing an additional 309 shares during the last quarter. Signature Wealth Management Partners LLC grew its holdings in shares of GE Vernova by 16.9% in the third quarter. Signature Wealth Management Partners LLC now owns 753 shares of the company’s stock worth $463,000 after purchasing an additional 109 shares during the last quarter. CX Institutional increased its stake in GE Vernova by 10.8% in the 3rd quarter. CX Institutional now owns 2,130 shares of the company’s stock worth $1,310,000 after buying an additional 208 shares during the period. Strategic Blueprint LLC lifted its holdings in GE Vernova by 54.4% during the 3rd quarter. Strategic Blueprint LLC now owns 2,751 shares of the company’s stock valued at $1,691,000 after buying an additional 969 shares in the last quarter. Finally, Childress Capital Advisors LLC boosted its position in GE Vernova by 20.4% in the 3rd quarter. Childress Capital Advisors LLC now owns 1,280 shares of the company’s stock valued at $787,000 after buying an additional 217 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Bank of America boosted their price target on GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Rothschild Redb cut GE Vernova from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. TD Cowen decreased their target price on GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Finally, UBS Group upped their target price on GE Vernova from $760.00 to $835.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $695.19.

GE Vernova Stock Down 3.5%

Shares of GEV stock opened at $662.38 on Thursday. The firm has a market cap of $179.72 billion, a price-to-earnings ratio of 107.88, a PEG ratio of 2.87 and a beta of 1.67. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $731.00. The company’s 50 day moving average is $618.74 and its 200 day moving average is $605.43.

GE Vernova (NYSE:GEV) last announced its 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 net margin of 4.52% and a return on equity of 17.07%. The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period last year, the business posted ($0.35) EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

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