Alpha Cubed Investments LLC Buys New Shares in GE Vernova Inc. (NYSE:GEV)

Alpha Cubed Investments LLC acquired a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,214 shares of the company's stock, valued at approximately $371,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GEV. Norges Bank purchased a new position in shares of GE Vernova during the 4th quarter valued at approximately $1,109,720,000. Capital International Investors grew its holdings in shares of GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. GAMMA Investing LLC grew its holdings in shares of GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after purchasing an additional 2,135,066 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of GE Vernova by 1,638.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock worth $432,309,000 after purchasing an additional 1,238,690 shares during the period. Finally, FMR LLC grew its position in GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after acquiring an additional 814,155 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts have weighed in on GEV shares. Truist Financial set a $440.00 target price on GE Vernova in a research report on Thursday, March 27th. JPMorgan Chase & Co. raised their target price on GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. BMO Capital Markets raised their target price on GE Vernova from $522.00 to $590.00 and gave the stock an "outperform" rating in a research report on Tuesday. Morgan Stanley lifted their price target on GE Vernova from $422.00 to $511.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 24th. Finally, Wall Street Zen raised GE Vernova from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $451.38.

GE Vernova Price Performance

GEV traded down $0.41 during trading on Friday, reaching $538.95. 2,285,780 shares of the stock were exchanged, compared to its average volume of 3,318,687. The business's 50 day moving average price is $476.87 and its two-hundred day moving average price is $389.56. The company has a market capitalization of $147.10 billion, a price-to-earnings ratio of 77.66, a P/E/G ratio of 4.15 and a beta of 1.86. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $546.36.

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, topping 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 company had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the previous year, the firm posted ($0.47) earnings per share. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.19%. GE Vernova's payout ratio is currently 14.41%.

GE Vernova Company Profile

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.