Red Door Wealth Management LLC Takes $267,000 Position in GE Vernova Inc. (NYSE:GEV)

Red Door Wealth Management LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 875 shares of the company's stock, valued at approximately $267,000.

Several other large investors have also recently made changes to their positions in GEV. Stonebridge Financial Group LLC boosted its stake in shares of GE Vernova by 8.9% in the 1st quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock valued at $105,000 after purchasing an additional 28 shares in the last quarter. Fulcrum Equity Management lifted its stake in GE Vernova by 3.6% in the fourth quarter. Fulcrum Equity Management now owns 886 shares of the company's stock worth $291,000 after purchasing an additional 31 shares during the last quarter. Dopkins Wealth Management LLC boosted its position in GE Vernova by 4.9% during the first quarter. Dopkins Wealth Management LLC now owns 668 shares of the company's stock valued at $204,000 after buying an additional 31 shares during the period. Rothschild Investment LLC grew its stake in shares of GE Vernova by 1.7% during the first quarter. Rothschild Investment LLC now owns 1,965 shares of the company's stock valued at $600,000 after buying an additional 33 shares during the last quarter. Finally, Johnson & White Wealth Management LLC grew its stake in shares of GE Vernova by 3.7% during the first quarter. Johnson & White Wealth Management LLC now owns 929 shares of the company's stock valued at $284,000 after buying an additional 33 shares during the last quarter.

GE Vernova Trading Up 2.4%

GE Vernova stock traded up $12.28 during trading hours on Friday, hitting $517.35. 1,809,150 shares of the stock traded hands, compared to its average volume of 3,306,722. GE Vernova Inc. has a one year low of $150.01 and a one year high of $532.59. The firm's 50-day moving average price is $458.30 and its two-hundred day moving average price is $381.43. The company has a market cap of $141.20 billion, a PE ratio of 74.55, a PEG ratio of 3.89 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates 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 previous year, the company posted ($0.47) earnings per share. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GEV. Wall Street Zen raised GE Vernova from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Truist Financial set a $440.00 price target on GE Vernova in a research note on Thursday, March 27th. Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Guggenheim restated a "buy" rating and issued a $380.00 target price on shares of GE Vernova in a report on Thursday, April 24th. Finally, Bank of America upped their price target on shares of GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and an average target price of $440.04.

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.