Focus Partners Advisor Solutions LLC Buys 1,790 Shares of GE Vernova Inc. $GEV

Focus Partners Advisor Solutions LLC boosted its stake in GE Vernova Inc. (NYSE:GEV) by 25.6% in the 3rd quarter, Holdings Channel reports. The firm owned 8,778 shares of the company’s stock after acquiring an additional 1,790 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in GE Vernova were worth $5,252,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GEV. Elo Mutual Pension Insurance Co lifted its holdings in shares of GE Vernova by 1.5% in the third quarter. Elo Mutual Pension Insurance Co now owns 26,842 shares of the company’s stock worth $16,505,000 after buying an additional 389 shares in the last quarter. WASHINGTON TRUST Co increased its holdings in GE Vernova by 19.4% during the 3rd quarter. WASHINGTON TRUST Co now owns 1,628 shares of the company’s stock worth $1,001,000 after acquiring an additional 265 shares during the period. Fisher Asset Management LLC lifted its stake in GE Vernova by 10.7% in the 3rd quarter. Fisher Asset Management LLC now owns 4,662 shares of the company’s stock worth $2,867,000 after purchasing an additional 451 shares in the last quarter. Bahl & Gaynor Inc. lifted its stake in GE Vernova by 1.9% in the 3rd quarter. Bahl & Gaynor Inc. now owns 1,078 shares of the company’s stock worth $663,000 after purchasing an additional 20 shares in the last quarter. Finally, London & Capital Asset Management Ltd boosted its holdings in GE Vernova by 28.7% in the 3rd quarter. London & Capital Asset Management Ltd now owns 71,973 shares of the company’s stock valued at $44,255,000 after purchasing an additional 16,032 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GEV shares. The Goldman Sachs Group upped their price target on shares of GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 10th. UBS Group restated a “buy” rating on shares of GE Vernova in a research note on Thursday, January 29th. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 price target for the company in a research report on Friday, January 30th. Finally, Bank of America boosted their price objective on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $788.24.

GE Vernova Stock Down 4.5%

NYSE GEV opened at $841.95 on Wednesday. The stock’s 50-day simple moving average is $734.06 and its two-hundred day simple moving average is $652.14. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $894.93. The company has a market capitalization of $226.93 billion, a price-to-earnings ratio of 47.30, a PEG ratio of 3.51 and a beta of 1.45.

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

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s 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.