Xcel Wealth Management LLC Purchases 3,088 Shares of GE Vernova Inc. $GEV

Xcel Wealth Management LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 183.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,774 shares of the company’s stock after purchasing an additional 3,088 shares during the quarter. Xcel Wealth Management LLC’s holdings in GE Vernova were worth $3,120,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of GEV. Jackson Grant Investment Advisers Inc. increased its position in shares of GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the last quarter. Wealth Watch Advisors INC bought a new position in shares of GE Vernova during the 3rd quarter valued at about $25,000. ORG Wealth Partners LLC increased its position in shares of GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after purchasing an additional 29 shares during the last quarter. Bay Harbor Wealth Management LLC increased its position 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 valued at $31,000 after purchasing an additional 43 shares during the last quarter. Finally, Monetary Management Group Inc. bought a new position in shares of GE Vernova during the 2nd quarter valued at about $32,000.

GE Vernova Price Performance

Shares of GEV stock opened at $979.13 on Friday. The stock has a market capitalization of $263.24 billion, a PE ratio of 55.01, a P/E/G ratio of 3.87 and a beta of 1.43. GE Vernova Inc. has a 1-year low of $306.21 and a 1-year high of $1,007.38. The business has a 50-day moving average of $865.77 and a 200 day moving average of $711.81.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating the consensus estimate of $2.99 by $10.40. The company had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.GE Vernova’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.73 EPS. Analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GEV. Oppenheimer increased their price objective on GE Vernova from $871.00 to $1,139.00 and gave the company an “outperform” rating in a research report on Thursday. Royal Bank Of Canada increased their target price on GE Vernova from $761.00 to $800.00 and gave the company an “outperform” rating in a report on Friday, January 30th. China Renaissance upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, January 29th. Wall Street Zen upgraded GE Vernova from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Finally, JPMorgan Chase & Co. increased their target price on GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $919.48.

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.