Arcus Capital Partners LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 2,880 shares of the company's stock, valued at approximately $879,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC lifted its position in GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after acquiring an additional 817 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in GE Vernova by 79.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock worth $67,622,000 after acquiring an additional 98,034 shares during the last quarter. Grandview Asset Management LLC lifted its position in GE Vernova by 48.8% during the 1st quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock worth $656,000 after acquiring an additional 705 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in GE Vernova during the 1st quarter worth $328,000. Finally, GAMMA Investing LLC lifted its position in GE Vernova by 8.4% during the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock worth $2,142,000 after acquiring an additional 542 shares during the last quarter.
GE Vernova Stock Performance
GE Vernova stock traded down $0.41 during trading hours on Friday, hitting $538.95. 2,285,780 shares of the stock were exchanged, compared to its average volume of 3,325,574. The stock has a market capitalization of $147.10 billion, a P/E ratio of 77.66, a P/E/G ratio of 4.01 and a beta of 1.86. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $546.65. The business's 50-day moving average is $476.87 and its two-hundred day moving average is $390.18.
GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.54. The firm had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.47) earnings per share. On average, equities analysts predict 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. Stockholders of record on Monday, July 21st will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.19%. GE Vernova's dividend payout ratio (DPR) is currently 14.41%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Bank of America boosted their target price on shares of GE Vernova from $520.00 to $550.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Glj Research initiated coverage on shares of GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating for the company. BMO Capital Markets upped their price objective on shares of GE Vernova from $522.00 to $590.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Truist Financial set a $440.00 price objective on shares of GE Vernova in a research report on Thursday, March 27th. Finally, UBS Group initiated coverage on shares of GE Vernova in a research report on Monday, July 7th. They set a "buy" rating and a $614.00 price objective for the company. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $451.38.
Read Our Latest Analysis on GE Vernova
GE Vernova 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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