GE Vernova Inc. $GEV Shares Acquired by Synergy Asset Management LLC

Synergy Asset Management LLC grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 300.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,884 shares of the company’s stock after purchasing an additional 1,413 shares during the period. Synergy Asset Management LLC’s holdings in GE Vernova were worth $1,078,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. First City Capital Management Inc. acquired a new position in GE Vernova during the 3rd quarter valued at about $216,000. Simon Quick Advisors LLC grew its stake in shares of GE Vernova by 21.4% during the third quarter. Simon Quick Advisors LLC now owns 937 shares of the company’s stock worth $576,000 after acquiring an additional 165 shares during the last quarter. Signaturefd LLC increased its holdings in shares of GE Vernova by 7.0% during the third quarter. Signaturefd LLC now owns 6,484 shares of the company’s stock valued at $3,987,000 after acquiring an additional 423 shares in the last quarter. Taylor Frigon Capital Management LLC acquired a new position in shares of GE Vernova during the third quarter valued at about $2,305,000. Finally, GAM Holding AG purchased a new position in shares of GE Vernova in the 3rd quarter valued at approximately $419,000.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Melius Research set a $740.00 target price on shares of GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. Morgan Stanley boosted their price objective on shares of GE Vernova from $710.00 to $822.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. BMO Capital Markets upped their target price on GE Vernova from $710.00 to $780.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. Seaport Res Ptn cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Finally, Cowen reissued a “buy” rating on shares of GE Vernova in a report on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $691.11.

GE Vernova Price Performance

NYSE GEV opened at $678.29 on Friday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $731.00. The company has a market capitalization of $184.03 billion, a PE ratio of 110.47, a P/E/G ratio of 2.85 and a beta of 1.67. The company has a fifty day moving average of $612.80 and a 200 day moving average of $601.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The company had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.35) EPS. Research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, January 5th. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. GE Vernova’s dividend payout ratio is presently 16.29%.

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.