Geneos Wealth Management Inc. Sells 1,598 Shares of GE Vernova Inc. $GEV

Geneos Wealth Management Inc. reduced its holdings in GE Vernova Inc. (NYSE:GEV) by 35.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,859 shares of the company’s stock after selling 1,598 shares during the quarter. Geneos Wealth Management Inc.’s holdings in GE Vernova were worth $1,758,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of GE Vernova during the 2nd quarter valued at $1,809,220,000. Arrowstreet Capital Limited Partnership increased its stake in GE Vernova by 273.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock valued at $798,126,000 after purchasing an additional 1,104,747 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of GE Vernova by 10,044.9% during the second quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock valued at $445,773,000 after purchasing an additional 834,129 shares during the period. Qube Research & Technologies Ltd boosted its position in shares of GE Vernova by 771.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock worth $403,861,000 after purchasing an additional 675,629 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of GE Vernova by 26.3% during the 2nd quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock worth $1,173,262,000 after purchasing an additional 462,038 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GEV. Oppenheimer raised GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 target price for the company in a research report on Wednesday, December 10th. Citigroup decreased their price objective on GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Robert W. Baird set a $816.00 target price on GE Vernova in a research report on Thursday, December 18th. Glj Research lifted their price target on shares of GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, UBS Group upped their price objective on shares of GE Vernova from $760.00 to $835.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $695.19.

GE Vernova Trading Down 5.0%

NYSE GEV opened at $629.26 on Friday. The business has a fifty day simple moving average of $619.83 and a 200 day simple moving average of $605.60. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $731.00. The firm has a market capitalization of $170.73 billion, a P/E ratio of 102.49, a PEG ratio of 2.77 and a beta of 1.67.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.35) earnings per share. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s payout ratio is currently 32.57%.

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.