GE Vernova Inc. $GEV Shares Purchased by Owen LaRue LLC

Owen LaRue LLC increased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 120.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,909 shares of the company’s stock after buying an additional 3,226 shares during the period. GE Vernova comprises 1.4% of Owen LaRue LLC’s portfolio, making the stock its 17th largest holding. Owen LaRue LLC’s holdings in GE Vernova were worth $3,634,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bay Harbor Wealth Management LLC grew its holdings in shares of GE Vernova by 537.5% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the period. Elevation Wealth Partners LLC raised its holdings in GE Vernova by 47.2% during the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its position in GE Vernova by 112.0% during the third quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock worth $33,000 after purchasing an additional 28 shares in the last quarter. WFA Asset Management Corp purchased a new stake in GE Vernova during the second quarter worth $29,000. Finally, Howard Hughes Medical Institute acquired a new stake in GE Vernova in the second quarter valued at $31,000.

Wall Street Analyst Weigh In

GEV has been the subject of several research reports. Jefferies Financial Group set a $830.00 price target on GE Vernova in a research note on Monday, December 22nd. Morgan Stanley raised their target price on shares of GE Vernova from $710.00 to $822.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. Rothschild Redb lowered shares of GE Vernova from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a research note on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $701.62.

GE Vernova Price Performance

NYSE:GEV opened at $657.26 on Friday. The firm has a market cap of $178.33 billion, a PE ratio of 107.05, a P/E/G ratio of 2.79 and a beta of 1.67. The firm has a 50 day simple moving average of $639.17 and a 200-day simple moving average of $617.23. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $731.00.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). The firm had revenue of $9.97 billion during 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%.The firm’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.35) earnings per share. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. GE Vernova’s payout ratio is 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.