Assetmark Inc. Acquires 4,834 Shares of GE Vernova Inc. (NYSE:GEV)

Assetmark Inc. increased its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 52.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,104 shares of the company's stock after buying an additional 4,834 shares during the period. Assetmark Inc.'s holdings in GE Vernova were worth $4,306,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GEV. Cetera Investment Advisers boosted its holdings in GE Vernova by 18.5% in the first quarter. Cetera Investment Advisers now owns 77,531 shares of the company's stock worth $23,669,000 after acquiring an additional 12,107 shares in the last quarter. Avantax Advisory Services Inc. boosted its stake in GE Vernova by 10.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 8,202 shares of the company's stock worth $2,504,000 after purchasing an additional 769 shares in the last quarter. Tempus Wealth Planning LLC boosted its stake in GE Vernova by 0.5% in the 1st quarter. Tempus Wealth Planning LLC now owns 21,406 shares of the company's stock worth $6,535,000 after purchasing an additional 114 shares in the last quarter. Tufton Capital Management purchased a new stake in GE Vernova during the 1st quarter valued at about $209,000. Finally, Princeton Capital Management LLC increased its stake in GE Vernova by 4.9% during the 1st quarter. Princeton Capital Management LLC now owns 9,600 shares of the company's stock valued at $2,931,000 after purchasing an additional 451 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GEV shares. BMO Capital Markets increased their price target on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Mizuho downgraded GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 target price on the stock. in a research note on Monday. Barclays lifted their target price on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Bank of America upped their price target on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. increased their price objective on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $560.21.

GE Vernova Stock Performance

Shares of NYSE GEV traded down $5.50 during trading on Friday, hitting $654.79. The company had a trading volume of 2,070,899 shares, compared to its average volume of 3,665,766. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $677.29. The firm has a market capitalization of $178.25 billion, a P/E ratio of 158.00, a price-to-earnings-growth ratio of 4.53 and a beta of 1.86. The stock has a 50 day simple moving average of $526.57 and a 200 day simple moving average of $413.87.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same period in the prior year, the firm posted $4.65 EPS. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company 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 dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's payout ratio is 24.10%.

GE Vernova 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.