Ascent Wealth Partners LLC Takes $4.94 Million Position in GE Vernova Inc. (NYSE:GEV)

Ascent Wealth Partners LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 16,172 shares of the company's stock, valued at approximately $4,937,000.

A number of other hedge funds also recently made changes to their positions in GEV. Golden State Wealth Management LLC lifted its stake in GE Vernova by 201.7% during the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after purchasing an additional 817 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of GE Vernova by 79.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock valued at $67,622,000 after purchasing an additional 98,034 shares during the last quarter. Grandview Asset Management LLC increased its position in shares of GE Vernova by 48.8% during the 1st quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock valued at $656,000 after purchasing an additional 705 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of GE Vernova during the 1st quarter valued at about $328,000. Finally, GAMMA Investing LLC increased its position in shares of GE Vernova by 8.4% during the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock valued at $2,142,000 after purchasing an additional 542 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. UBS Group assumed coverage on GE Vernova in a research report on Monday, July 7th. They set a "buy" rating and a $614.00 price objective on the stock. Morgan Stanley increased their price objective on GE Vernova from $422.00 to $511.00 and gave the company an "overweight" rating in a research report on Tuesday, June 24th. Glj Research assumed coverage on GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating on the stock. Jefferies Financial Group lowered GE Vernova from a "buy" rating to a "hold" rating and increased their price objective for the company from $427.00 to $517.00 in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. increased their price objective on GE Vernova from $460.00 to $620.00 and gave the company an "overweight" rating in a research report on Wednesday. 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 company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $468.88.

GE Vernova Trading Up 0.9%

NYSE GEV traded up $4.85 on Friday, hitting $575.02. The company's stock had a trading volume of 2,051,713 shares, compared to its average volume of 3,302,162. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $581.27. The company's 50-day simple moving average is $489.76 and its 200 day simple moving average is $395.72. The firm has a market cap of $156.94 billion, a P/E ratio of 82.86, a PEG ratio of 4.18 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 the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The business had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter last year, the business posted ($0.47) EPS. The business's revenue was up 10.6% on a year-over-year basis. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced 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 0.17%. The ex-dividend date is Monday, July 21st. GE Vernova's payout ratio is presently 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.