Wealth Enhancement Advisory Services LLC Sells 7,261 Shares of GE Vernova Inc. $GEV

Wealth Enhancement Advisory Services LLC decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 219,215 shares of the company’s stock after selling 7,261 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.08% of GE Vernova worth $132,871,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WFA Asset Management Corp acquired a new position in GE Vernova in the second quarter valued at about $29,000. Howard Hughes Medical Institute acquired a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $31,000. Bay Harbor Wealth Management LLC raised its position 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 valued at $31,000 after acquiring an additional 43 shares during the period. Monetary Management Group Inc. bought a new position in GE Vernova during the 2nd quarter worth approximately $32,000. Finally, Elevation Wealth Partners LLC grew 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 valued at $33,000 after purchasing an additional 17 shares during the period.

GE Vernova Price Performance

GEV opened at $681.78 on Monday. The company has a market capitalization of $184.98 billion, a price-to-earnings ratio of 111.04, a P/E/G ratio of 2.85 and a beta of 1.67. The business’s 50-day moving average price is $629.47 and its two-hundred day moving average price is $612.73. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $731.00.

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 the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.35) earnings per share. Sell-side analysts anticipate 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 given a $0.50 dividend. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s payout ratio is presently 32.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GEV shares. Morgan Stanley increased their target price on shares of GE Vernova from $710.00 to $822.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Baird R W downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. BMO Capital Markets boosted their target price on GE Vernova from $710.00 to $780.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $703.04.

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.