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Apollon Wealth Management LLC Acquires 17,916 Shares of GE Vernova Inc. (NYSE:GEV)

GE Vernova logo with Energy background

Apollon Wealth Management LLC increased its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 225.9% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 25,848 shares of the company's stock after buying an additional 17,916 shares during the quarter. Apollon Wealth Management LLC's holdings in GE Vernova were worth $7,891,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. FMR LLC boosted its position in GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after purchasing an additional 814,155 shares during the last quarter. Capital International Investors raised its stake in shares of GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after buying an additional 2,994,660 shares during the period. Geode Capital Management LLC raised its stake in shares of GE Vernova by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after buying an additional 195,828 shares during the period. Norges Bank bought a new position in shares of GE Vernova in the fourth quarter worth about $1,109,720,000. Finally, Northern Trust Corp raised its stake in shares of GE Vernova by 15.0% in the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after buying an additional 343,837 shares during the period.

GE Vernova Price Performance

NYSE:GEV opened at $538.95 on Monday. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $546.65. The company has a 50-day moving average of $476.87 and a 200 day moving average of $390.18. The firm has a market cap of $147.10 billion, a PE ratio of 77.66, a price-to-earnings-growth ratio of 4.01 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data 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 net margin of 5.42% and a return on equity of 10.10%. The company had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the firm earned ($0.47) earnings per share. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be paid 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 currently 14.41%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a research note on Thursday. Truist Financial set a $440.00 price objective on GE Vernova in a research note on Thursday, March 27th. Susquehanna reissued a "positive" rating and set a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and lifted their target price for the company from $427.00 to $517.00 in a research note on Thursday, May 29th. Finally, The Goldman Sachs Group lifted their target price on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $451.38.

Read Our Latest Stock Analysis on GE Vernova

GE Vernova Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for GE Vernova (NYSE:GEV)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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