Private Advisor Group LLC Increases Stake in GE Vernova Inc. $GEV

Key Points

• Private Advisor Group LLC increased its stake in GE Vernova by 7.4% to 34,724 shares, valued at about $21.35 million at the end of the quarter.
• GE Vernova posted a huge quarterly EPS beat of $13.39 vs. $2.99 expected and revenue of $10.96B, leading multiple analysts to raise targets and an average price target of $831.29 with a consensus "Moderate Buy."
• Shares are trading near $829.66 (up ~5.1%), the company has a market cap of roughly $223.6B and a PE of 46.6, and it announced a $0.50 quarterly dividend (annualized $2.00, ~0.2% yield).

Private Advisor Group LLC raised its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 7.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,724 shares of the company's stock after purchasing an additional 2,383 shares during the quarter. Private Advisor Group LLC's holdings in GE Vernova were worth $21,352,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GEV. Good Life Advisors LLC grew its holdings in shares of GE Vernova by 1.0% during the second quarter. Good Life Advisors LLC now owns 1,654 shares of the company's stock valued at $875,000 after buying an additional 16 shares during the last quarter. Bell Investment Advisors Inc increased its position in shares of GE Vernova by 6.7% during the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company's stock valued at $135,000 after acquiring an additional 16 shares in the last quarter. Northwest Wealth Management LLC raised its holdings in GE Vernova by 3.6% in the 3rd quarter. Northwest Wealth Management LLC now owns 465 shares of the company's stock worth $286,000 after acquiring an additional 16 shares during the last quarter. Traphagen Investment Advisors LLC raised its holdings in GE Vernova by 1.2% in the 3rd quarter. Traphagen Investment Advisors LLC now owns 1,418 shares of the company's stock worth $872,000 after acquiring an additional 17 shares during the last quarter. Finally, Navigoe LLC lifted its position in GE Vernova by 20.2% in the 3rd quarter. Navigoe LLC now owns 101 shares of the company's stock valued at $62,000 after acquiring an additional 17 shares in the last quarter.

Analyst Ratings Changes

Several analysts have commented on the company. BMO Capital Markets reiterated an "outperform" rating and set a $785.00 target price on shares of GE Vernova in a research note on Thursday, January 29th. Bank of America boosted their price target on GE Vernova from $725.00 to $804.00 and gave the stock a "buy" rating in a research note on Wednesday, December 10th. Royal Bank Of Canada increased their price objective on GE Vernova from $761.00 to $800.00 and gave the company an "outperform" rating in a research report on Friday, January 30th. The Goldman Sachs Group lifted their price objective on GE Vernova from $840.00 to $925.00 and gave the stock a "buy" rating in a report on Thursday, January 29th. Finally, Erste Group Bank started coverage on GE Vernova in a research report on Thursday, March 5th. They issued a "buy" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $831.29.

GE Vernova Trading Up 5.1%

Shares of GEV opened at $829.66 on Tuesday. The firm has a fifty day simple moving average of $746.41 and a two-hundred day simple moving average of $658.06. The firm has a market cap of $223.62 billion, a PE ratio of 46.61, a P/E/G ratio of 3.14 and a beta of 1.44. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $894.93.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The firm had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $10.21 billion. During the same period last year, the business posted $1.73 EPS. The company's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova's dividend payout ratio (DPR) is presently 11.24%.

GE Vernova Company 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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