Cookson Peirce & Co. Inc. Acquires 1,332 Shares of GE Vernova Inc. $GEV

Cookson Peirce & Co. Inc. grew its holdings in GE Vernova Inc. (NYSE:GEV) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,219 shares of the company’s stock after buying an additional 1,332 shares during the period. Cookson Peirce & Co. Inc.’s holdings in GE Vernova were worth $20,426,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GEV. WFA Asset Management Corp bought a new position in GE Vernova during the second quarter worth $29,000. Howard Hughes Medical Institute bought a new stake in shares of GE Vernova during the 2nd quarter worth about $31,000. Bay Harbor Wealth Management LLC boosted its holdings in shares of GE Vernova by 537.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the period. Monetary Management Group Inc. acquired a new position in GE Vernova in the 2nd quarter valued at about $32,000. Finally, Elevation Wealth Partners LLC raised its holdings in GE Vernova by 47.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after acquiring an additional 17 shares during the period.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GEV. Morgan Stanley restated an “overweight” rating and set a $817.00 price objective on shares of GE Vernova in a report on Monday, January 26th. Wall Street Zen upgraded GE Vernova from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price objective on the stock in a research report on Friday, January 30th. TD Cowen lifted their target price on GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Finally, Susquehanna boosted their target price on shares of GE Vernova from $800.00 to $820.00 and gave the company a “positive” rating in a research report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $788.24.

GE Vernova Price Performance

Shares of NYSE GEV opened at $816.42 on Friday. The business has a fifty day moving average price of $686.41 and a two-hundred day moving average price of $634.43. The stock has a market capitalization of $220.05 billion, a PE ratio of 45.87, a P/E/G ratio of 3.28 and a beta of 1.67. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $846.00.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $10.40. The company had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.GE Vernova’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $1.73 earnings per share. On average, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 5th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Monday, January 5th. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio is presently 11.24%.

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.