Sequoia Financial Advisors LLC Acquires 957 Shares of GE Vernova Inc. $GEV

Key Points

• Sequoia Financial Advisors LLC increased its stake in GE Vernova (NYSE:GEV) by 957 shares (a 3.4% rise) to 29,270 shares, valued at about $19.13 million at the end of the quarter.
• GE Vernova delivered a huge earnings beat, reporting $17.44 EPS versus a $1.95 estimate and $9.34 billion in revenue, with a 23.8% net margin and strong year-over-year revenue growth.
• Analysts remain broadly positive, with a consensus rating of "Moderate Buy" and an average price target of $1,090.76, while several firms (including RBC and Oppenheimer) have recently raised targets.

Sequoia Financial Advisors LLC increased its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,270 shares of the company's stock after purchasing an additional 957 shares during the period. Sequoia Financial Advisors LLC's holdings in GE Vernova were worth $19,130,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Sigma Investment Counselors Inc. acquired a new position in shares of GE Vernova during the 4th quarter valued at about $217,000. Lmcg Investments LLC lifted its holdings in GE Vernova by 2.2% in the 4th quarter. Lmcg Investments LLC now owns 1,102 shares of the company's stock worth $720,000 after purchasing an additional 24 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in GE Vernova by 22.0% during the fourth quarter. Gateway Investment Advisers LLC now owns 45,443 shares of the company's stock worth $29,700,000 after purchasing an additional 8,197 shares during the period. Ponta Wealth Partners LLC acquired a new position in GE Vernova during the fourth quarter valued at approximately $211,000. Finally, Indivisible Partners acquired a new position in GE Vernova during the fourth quarter valued at approximately $369,000.

Analysts Set New Price Targets

GEV has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price objective on shares of GE Vernova from $996.00 to $1,195.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. BNP Paribas Exane downgraded shares of 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. Oppenheimer set a $1,303.00 target price on shares of GE Vernova in a research report on Thursday, April 23rd. Weiss Ratings upgraded shares of GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Finally, Glj Research lifted their price objective on GE Vernova from $758.00 to $1,087.00 and gave the stock a "buy" rating in a research note on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,090.76.

GE Vernova Price Performance

NYSE:GEV opened at $1,120.60 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The company has a 50-day moving average of $930.51 and a 200-day moving average of $752.62. GE Vernova Inc. has a 52 week low of $387.03 and a 52 week high of $1,181.95. The company has a market capitalization of $301.13 billion, a price-to-earnings ratio of 32.64, a PEG ratio of 4.10 and a beta of 1.51.

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, topping the consensus estimate of $1.95 by $15.49. The firm had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 earnings per share. As a group, equities research analysts anticipate that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. 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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