LaFleur & Godfrey LLC Makes New Investment in GE Vernova Inc. (NYSE:GEV)

LaFleur & Godfrey LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 18,463 shares of the company's stock, valued at approximately $5,636,000.

A number of other hedge funds also recently modified their holdings of the stock. Brighton Jones LLC boosted its position in shares of GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after acquiring an additional 753 shares in the last quarter. Sigma Planning Corp lifted its stake in GE Vernova by 9.4% during the fourth quarter. Sigma Planning Corp now owns 4,241 shares of the company's stock worth $1,395,000 after purchasing an additional 364 shares during the last quarter. Wealthspire Advisors LLC boosted its holdings in shares of GE Vernova by 8.7% in the 4th quarter. Wealthspire Advisors LLC now owns 4,989 shares of the company's stock valued at $1,641,000 after purchasing an additional 400 shares in the last quarter. Howard Capital Management Inc. increased its stake in shares of GE Vernova by 5.1% in the 4th quarter. Howard Capital Management Inc. now owns 1,678 shares of the company's stock valued at $552,000 after purchasing an additional 81 shares during the last quarter. Finally, MONECO Advisors LLC acquired a new position in shares of GE Vernova during the 4th quarter worth $284,000.

GE Vernova Stock Performance

Shares of GEV stock traded down $7.85 on Wednesday, hitting $502.99. The company had a trading volume of 2,474,448 shares, compared to its average volume of 3,263,920. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $522.16. The firm has a market cap of $137.28 billion, a P/E ratio of 72.48, a P/E/G ratio of 3.88 and a beta of 1.97. The stock's 50-day moving average is $432.77 and its two-hundred day moving average is $373.10.

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

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio is currently 14.41%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. The Goldman Sachs Group upped their price objective on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. New Street Research set a $380.00 price target on shares of GE Vernova in a research note on Wednesday, March 5th. Guggenheim reiterated a "buy" rating and set a $380.00 price objective on shares of GE Vernova in a research report on Thursday, April 24th. Finally, TD Cowen dropped their price objective on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Eight equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $429.13.

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.