MJP Associates Inc. ADV Raises Stake in GE Vernova Inc. (NYSE:GEV)

MJP Associates Inc. ADV grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 20.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,016 shares of the company’s stock after purchasing an additional 171 shares during the period. MJP Associates Inc. ADV’s holdings in GE Vernova were worth $334,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Cedar Mountain Advisors LLC raised its holdings in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares in the last quarter. MRP Capital Investments LLC purchased a new position in shares of GE Vernova during the fourth quarter valued at approximately $25,000. Fairway Wealth LLC lifted its position in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after purchasing an additional 55 shares during the period. Pineridge Advisors LLC lifted its holdings in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares during the period. Finally, Navigoe LLC purchased a new stake in GE Vernova in the fourth quarter worth $27,000.

Wall Street Analyst Weigh In

Several brokerages recently commented on GEV. Royal Bank of Canada cut their price objective on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. TD Cowen reduced their price target on shares of GE Vernova from $405.00 to $390.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Guggenheim reiterated a “buy” rating and set a $380.00 target price on shares of GE Vernova in a research report on Thursday, April 24th. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Finally, Baird R W raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $369.22.

GE Vernova Price Performance

GE Vernova stock opened at $416.85 on Tuesday. The firm’s 50 day simple moving average is $332.32 and its 200-day simple moving average is $342.20. The company has a market cap of $113.77 billion and a P/E ratio of 74.97. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the previous year, the company posted ($0.47) earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be issued a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.24%. GE Vernova’s dividend payout ratio is 14.41%.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.