GE Vernova Inc. $GEV Shares Acquired by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC increased its GE Vernova stake by 151% in the fourth quarter, holding 11,679 shares valued at about $7.63 million after buying 7,026 additional shares.
• GE Vernova’s stock opened at $1,040.75, near its 52-week high of $1,181.95, and the company now has a market cap of roughly $279.67 billion.
• The company delivered a strong quarterly beat, reporting $17.44 EPS versus $1.95 expected and revenue of $9.34 billion, while analysts remain broadly positive with a consensus rating of Moderate Buy.

NewEdge Wealth LLC raised its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 151.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,679 shares of the company's stock after acquiring an additional 7,026 shares during the period. NewEdge Wealth LLC's holdings in GE Vernova were worth $7,633,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GEV. Brighton Jones LLC boosted its stake in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after purchasing an additional 753 shares during the period. Schnieders Capital Management LLC. boosted its stake in shares of GE Vernova by 1.7% in the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company's stock valued at $828,000 after purchasing an additional 26 shares during the period. Jump Financial LLC purchased a new position in shares of GE Vernova in the second quarter valued at approximately $258,000. Ossiam purchased a new position in shares of GE Vernova in the second quarter valued at approximately $42,000. Finally, Nebula Research & Development LLC boosted its stake in shares of GE Vernova by 23.9% in the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company's stock valued at $886,000 after purchasing an additional 323 shares during the period.

GE Vernova Stock Up 0.1%

Shares of GE Vernova stock opened at $1,040.75 on Monday. GE Vernova Inc. has a 52-week low of $387.03 and a 52-week high of $1,181.95. The company has a 50 day moving average of $933.83 and a 200 day moving average of $755.75. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $279.67 billion, a P/E ratio of 30.32, a P/E/G ratio of 3.90 and a beta of 1.51.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The firm's quarterly revenue was up 17.0% on a year-over-year basis. As a group, research analysts forecast that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

Analyst Ratings Changes

GEV has been the subject of several recent research reports. Jefferies Financial Group raised their price objective on shares of GE Vernova from $965.00 to $1,350.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Rothschild & Co Redburn raised shares of GE Vernova from a "sell" rating to a "buy" rating and raised their price objective for the company from $560.00 to $1,100.00 in a research note on Monday, March 9th. Weiss Ratings raised shares of GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, April 24th. Royal Bank Of Canada raised their price objective on shares of GE Vernova from $996.00 to $1,195.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. Finally, BMO Capital Markets raised their price objective on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,090.76.

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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