Diversify Wealth Management LLC Has $3.46 Million Position in GE Vernova Inc. $GEV

Key Points

• Diversify Wealth Management LLC boosted its GE Vernova stake by 293% in the fourth quarter, bringing its holdings to 5,309 shares valued at about $3.46 million.
• GE Vernova has drawn continued institutional buying and mostly bullish analyst attention, with several firms raising price targets and the stock carrying a consensus Moderate Buy rating.
• The company reported strong quarterly results, including EPS of $17.44 versus $1.95 expected and revenue of $9.34 billion, while also paying a quarterly dividend of $0.50 per share.

Diversify Wealth Management LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 293.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,309 shares of the company's stock after acquiring an additional 3,958 shares during the quarter. Diversify Wealth Management LLC's holdings in GE Vernova were worth $3,462,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. MGO One Seven LLC increased its holdings in shares of GE Vernova by 7.4% during the 4th quarter. MGO One Seven LLC now owns 15,170 shares of the company's stock worth $9,915,000 after acquiring an additional 1,039 shares during the last quarter. MPS Loria Financial Planners LLC acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $390,000. Crestwood Advisors Group LLC increased its holdings in shares of GE Vernova by 13.6% during the 4th quarter. Crestwood Advisors Group LLC now owns 4,353 shares of the company's stock worth $2,845,000 after acquiring an additional 522 shares during the last quarter. Allegiance Financial Group Advisory Services LLC increased its holdings in shares of GE Vernova by 19.3% during the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 926 shares of the company's stock worth $605,000 after acquiring an additional 150 shares during the last quarter. Finally, Cabot Wealth Management Inc. acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $314,000.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent analyst reports. Rothschild & Co Redburn raised GE Vernova from a "sell" rating to a "buy" rating and boosted their target price for the stock from $560.00 to $1,100.00 in a report on Monday, March 9th. Morgan Stanley boosted their target price on GE Vernova from $817.00 to $960.00 and gave the stock an "overweight" rating in a report on Monday, March 23rd. BNP Paribas Exane lowered GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 target price on the stock. in a report on Monday, April 27th. Guggenheim boosted their price target on GE Vernova from $910.00 to $1,300.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Finally, Susquehanna set a $1,300.00 price target on GE Vernova in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,090.76.

GE Vernova Stock Performance

GEV opened at $1,040.75 on Friday. The business has a fifty day simple moving average of $933.83 and a 200 day simple moving average of $755.75. The company has a market capitalization of $279.67 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 3.92 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. GE Vernova Inc. has a 1 year low of $387.03 and a 1 year high of $1,181.95.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $15.49. The firm had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company's revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 EPS. Research analysts expect that GE Vernova Inc. will post 14.84 EPS for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Tuesday, March 17th. GE Vernova's dividend payout ratio is presently 5.83%.

GE Vernova 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.

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