Wealthfront Advisers LLC Purchases 1,960 Shares of GE Vernova Inc. $GEV

Key Points

• Wealthfront Advisers raised its stake in GE Vernova by 5.7% in Q4, buying 1,960 shares to hold 36,428 shares worth about $23.81 million per its latest 13F filing.
• GE Vernova reported a blowout quarter with EPS $17.44 (vs. $1.95 estimate) and revenue of $9.34 billion, while the stock trades around $1,119 and the company has a market cap near $300.8 billion.
• Analysts are broadly bullish after several target upgrades (Jefferies and Goldman among them), with a consensus rating of "Moderate Buy" and a consensus price target of $1,090.76.

Wealthfront Advisers LLC lifted its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,428 shares of the company's stock after buying an additional 1,960 shares during the period. Wealthfront Advisers LLC's holdings in GE Vernova were worth $23,808,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of GE Vernova by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company's stock valued at $16,354,691,000 after buying an additional 208,162 shares in the last quarter. State Street Corp boosted its stake in GE Vernova by 1.3% in the 3rd quarter. State Street Corp now owns 11,238,278 shares of the company's stock worth $6,910,417,000 after purchasing an additional 140,500 shares during the period. Northern Trust Corp boosted its stake in GE Vernova by 1.8% in the 3rd quarter. Northern Trust Corp now owns 2,877,458 shares of the company's stock worth $1,769,349,000 after purchasing an additional 51,738 shares during the period. Invesco Ltd. boosted its stake in GE Vernova by 7.1% in the 3rd quarter. Invesco Ltd. now owns 2,375,738 shares of the company's stock worth $1,460,841,000 after purchasing an additional 158,481 shares during the period. Finally, Capital World Investors boosted its stake in GE Vernova by 1,907.5% in the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company's stock worth $1,325,842,000 after purchasing an additional 2,048,792 shares during the period.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of research analyst reports. Morgan Stanley upped their target price on shares of GE Vernova from $817.00 to $960.00 and gave the stock an "overweight" rating in a research note on Monday, March 23rd. Mizuho set a $714.00 target price on shares of GE Vernova in a research note on Tuesday, February 3rd. Jefferies Financial Group upped their target price on shares of GE Vernova from $965.00 to $1,350.00 and gave the stock a "buy" rating in a research note on Friday. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $1,328.00 target price on shares of GE Vernova in a research note on Friday. Finally, Rothschild & Co Redburn raised shares of GE Vernova from a "sell" rating to a "buy" rating and upped their target price for the stock from $560.00 to $1,100.00 in a research note on Monday, March 9th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,090.76.

GE Vernova Trading Down 2.6%

GE Vernova stock opened at $1,119.23 on Tuesday. The firm has a 50-day moving average of $904.12 and a 200-day moving average of $736.19. GE Vernova Inc. has a one year low of $357.64 and a one year high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The company has a market cap of $300.76 billion, a price-to-earnings ratio of 32.60, a P/E/G ratio of 4.40 and a beta of 1.43.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 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 period in the prior year, the business posted $0.91 EPS. The company's quarterly revenue was up 17.0% on a year-over-year basis. On average, equities analysts expect that GE Vernova Inc. will post 14.5 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th were paid 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 currently 5.83%.

About GE Vernova

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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