Nisa Investment Advisors LLC Has $46.35 Million Holdings in GE Vernova Inc. $GEV

by · The Cerbat Gem

Nisa Investment Advisors LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 41.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,370 shares of the company’s stock after purchasing an additional 22,218 shares during the quarter. Nisa Investment Advisors LLC’s holdings in GE Vernova were worth $46,345,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. WFA Asset Management Corp bought a new stake in GE Vernova during the second quarter worth about $29,000. 1248 Management LLC bought a new stake in GE Vernova during the first quarter worth $31,000. Howard Hughes Medical Institute acquired a new stake in GE Vernova in the second quarter valued at $31,000. Bay Harbor Wealth Management LLC increased its stake in shares of GE Vernova by 537.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the last quarter. Finally, Monetary Management Group Inc. bought a new stake in shares of GE Vernova in the 2nd quarter valued at about $32,000.

Analyst Ratings Changes

A number of brokerages have weighed in on GEV. Rothschild & Co Redburn reissued a “sell” rating and set a $475.00 price target on shares of GE Vernova in a research report on Wednesday, October 15th. Susquehanna increased their price target on GE Vernova from $750.00 to $775.00 and gave the company a “positive” rating in a research note on Wednesday, December 10th. Wells Fargo & Company lifted their price objective on shares of GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. BMO Capital Markets increased their price objective on shares of GE Vernova from $710.00 to $780.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. Finally, Citigroup cut their target price on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $689.00.

Read Our Latest Research Report on GE Vernova

GE Vernova Stock Down 5.0%

Shares of GE Vernova stock opened at $629.26 on Friday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $731.00. The company has a 50-day simple moving average of $619.83 and a two-hundred day simple moving average of $605.60. The stock has a market capitalization of $170.73 billion, a price-to-earnings ratio of 102.49, a price-to-earnings-growth ratio of 2.77 and a beta of 1.67.

GE Vernova (NYSE:GEV – Get Free Report) last announced its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.35) earnings per share. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio is currently 32.57%.

GE Vernova Profile

(Free Report)

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.

Further Reading

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