IFP Advisors Inc Has $3.74 Million Position in GE Vernova Inc. $GEV

Key Points

• IFP Advisors Inc. increased its GE Vernova stake by 26.8% in the fourth quarter, buying 1,210 additional shares and bringing its total position to 5,725 shares valued at about $3.74 million.
• GE Vernova has continued to draw bullish analyst attention, with multiple firms raising price targets; the current consensus rating is Moderate Buy and the average price target is $1,090.76.
• The company posted strong quarterly results, reporting EPS of $17.44 and revenue of $9.34 billion, both above estimates, while also declaring a quarterly dividend of $0.50 per share.

IFP Advisors Inc raised its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 26.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,725 shares of the company's stock after buying an additional 1,210 shares during the quarter. IFP Advisors Inc's holdings in GE Vernova were worth $3,742,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. J.W. Cole Advisors Inc. raised its stake in GE Vernova by 25.3% during the third quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company's stock worth $9,990,000 after acquiring an additional 3,278 shares in the last quarter. US Bancorp DE raised its stake in GE Vernova by 2.2% during the third quarter. US Bancorp DE now owns 100,542 shares of the company's stock worth $61,824,000 after acquiring an additional 2,163 shares in the last quarter. Vanguard Group Inc. raised its stake in GE Vernova by 0.6% during the third quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company's stock worth $15,259,028,000 after acquiring an additional 150,892 shares in the last quarter. Varenne Capital Partners acquired a new position in GE Vernova during the third quarter worth $4,872,000. Finally, Merit Financial Group LLC raised its stake in GE Vernova by 17.4% during the fourth quarter. Merit Financial Group LLC now owns 15,080 shares of the company's stock worth $9,856,000 after acquiring an additional 2,230 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have issued reports on GEV. Mizuho set a $714.00 price objective on GE Vernova in a research note on Tuesday, February 3rd. China Renaissance upgraded GE Vernova to a "strong-buy" rating in a research note on Thursday, January 29th. The Goldman Sachs Group reiterated a "buy" rating and set a $1,328.00 price objective on shares of GE Vernova in a research note on Friday, April 24th. Barclays increased their price objective on GE Vernova from $993.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Thursday, April 23rd. Finally, TD Cowen increased their price objective on GE Vernova from $780.00 to $1,220.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and a consensus price target of $1,090.76.

Insider Transactions at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the transaction, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by corporate insiders.

GE Vernova Price Performance

GE Vernova stock opened at $1,045.50 on Friday. The business's 50-day simple moving average is $974.20 and its 200 day simple moving average is $788.53. The stock has a market cap of $280.95 billion, a price-to-earnings ratio of 30.45, a P/E/G ratio of 3.84 and a beta of 1.51. GE Vernova Inc. has a 12-month low of $448.45 and a 12-month high of $1,181.95. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19.

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

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is currently 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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