Creative Financial Designs Inc. ADV Acquires 1,631 Shares of GE Vernova Inc. $GEV

Creative Financial Designs Inc. ADV lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 264.8% during the third quarter, HoldingsChannel reports. The firm owned 2,247 shares of the company’s stock after purchasing an additional 1,631 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in GE Vernova were worth $1,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in GEV. Jackson Grant Investment Advisers Inc. raised its position in GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares during the period. Bay Harbor Wealth Management LLC increased its stake 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 purchasing an additional 43 shares during the last quarter. Elevation Wealth Partners LLC increased its stake in shares of GE Vernova by 47.2% during the 3rd 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 raised its holdings in shares of GE Vernova by 112.0% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock worth $33,000 after purchasing an additional 28 shares during the period. Finally, Howard Hughes Medical Institute purchased a new position in GE Vernova in the second quarter valued at approximately $31,000.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GEV shares. Mizuho set a $714.00 target price on GE Vernova in a research report on Tuesday, February 3rd. Evercore increased their price target on GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. Morgan Stanley restated an “overweight” rating and issued a $817.00 price objective on shares of GE Vernova in a research note on Monday, January 26th. Weiss Ratings raised shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Finally, Wolfe Research upgraded shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $788.24.

GE Vernova Stock Performance

Shares of GEV opened at $872.64 on Friday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $894.93. The stock’s 50-day simple moving average is $726.02 and its 200 day simple moving average is $648.68. The stock has a market capitalization of $235.20 billion, a price-to-earnings ratio of 49.02, a price-to-earnings-growth ratio of 3.48 and a beta of 1.67.

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

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is currently 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.