Xcel Wealth Management LLC Grows Stake in GE Vernova Inc. $GEV

Xcel Wealth Management LLC grew its holdings in GE Vernova Inc. (NYSE:GEV) by 183.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,774 shares of the company’s stock after acquiring an additional 3,088 shares during the period. Xcel Wealth Management LLC’s holdings in GE Vernova were worth $3,120,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GEV. Capital World Investors lifted its holdings 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 buying an additional 2,048,792 shares during the period. Franklin Resources Inc. lifted its holdings in GE Vernova by 170.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company’s stock worth $722,956,000 after buying an additional 740,339 shares during the period. SG Americas Securities LLC lifted its holdings in GE Vernova by 10,288.6% in the 4th quarter. SG Americas Securities LLC now owns 418,661 shares of the company’s stock worth $273,624,000 after buying an additional 414,631 shares during the period. Raymond James Financial Inc. lifted its holdings in GE Vernova by 66.0% in the 2nd quarter. Raymond James Financial Inc. now owns 944,567 shares of the company’s stock worth $499,817,000 after buying an additional 375,677 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in GE Vernova by 136.1% in the 3rd quarter. Nordea Investment Management AB now owns 561,213 shares of the company’s stock worth $341,038,000 after buying an additional 323,481 shares during the period.

GE Vernova Stock Down 0.7%

GEV opened at $979.13 on Friday. The stock has a market cap of $263.24 billion, a PE ratio of 55.01, a PEG ratio of 3.87 and a beta of 1.43. The business has a 50 day moving average of $865.77 and a 200-day moving average of $711.81. GE Vernova Inc. has a 52 week low of $306.21 and a 52 week high of $1,007.38.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating 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 company had revenue of $10.96 billion during the quarter, compared to analyst estimates of $10.21 billion. During the same quarter last year, the company earned $1.73 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, March 17th. GE Vernova’s dividend payout ratio (DPR) is 11.24%.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of research analyst reports. Zacks Research upgraded GE Vernova from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 30th. China Renaissance upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. raised their target price on GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Thursday. Evercore raised their target price on GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Finally, Robert W. Baird set a $923.00 target price on GE Vernova and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Buy” and a consensus target price of $919.48.

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.