Hillcrest Wealth Advisors NY LLC Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Hillcrest Wealth Advisors NY LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,400 shares of the company's stock, valued at approximately $427,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GEV. Kovack Advisors Inc. increased its stake in GE Vernova by 1.0% in the 4th quarter. Kovack Advisors Inc. now owns 3,167 shares of the company's stock worth $1,042,000 after purchasing an additional 31 shares in the last quarter. Fulcrum Equity Management increased its stake in GE Vernova by 3.6% in the 4th quarter. Fulcrum Equity Management now owns 886 shares of the company's stock worth $291,000 after purchasing an additional 31 shares in the last quarter. Rothschild Investment LLC increased its stake in GE Vernova by 1.7% in the 1st quarter. Rothschild Investment LLC now owns 1,965 shares of the company's stock worth $600,000 after purchasing an additional 33 shares in the last quarter. Johnson & White Wealth Management LLC increased its stake in GE Vernova by 3.7% in the 1st quarter. Johnson & White Wealth Management LLC now owns 929 shares of the company's stock worth $284,000 after purchasing an additional 33 shares in the last quarter. Finally, NewSquare Capital LLC increased its stake in GE Vernova by 32.4% in the 4th quarter. NewSquare Capital LLC now owns 139 shares of the company's stock worth $46,000 after purchasing an additional 34 shares in the last quarter.

GE Vernova Price Performance

Shares of GEV traded up $13.01 on Monday, reaching $499.97. 3,086,133 shares of the stock traded hands, compared to its average volume of 3,266,510. The firm has a market cap of $136.46 billion, a price-to-earnings ratio of 131.61, a P/E/G ratio of 3.78 and a beta of 1.97. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $503.56. The stock's 50-day moving average price is $425.55 and its 200-day moving average price is $371.06.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The firm had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the prior year, the business posted ($0.47) earnings per share. The business's revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.20%. GE Vernova's dividend payout ratio (DPR) is 14.41%.

Wall Street Analyst Weigh In

GEV has been the topic of several research analyst reports. New Street Research set a $380.00 target price on GE Vernova in a research note on Wednesday, March 5th. Royal Bank Of Canada lowered their target price on GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 18th. Citigroup lowered their target price on GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group lifted their price target on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, JPMorgan Chase & Co. lifted their price target on GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus price target of $425.42.

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.