BigSur Wealth Management LLC Purchases 3,441 Shares of GE Vernova Inc. (NYSE:GEV)

BigSur Wealth Management LLC lifted its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 96.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,003 shares of the company's stock after acquiring an additional 3,441 shares during the period. BigSur Wealth Management LLC's holdings in GE Vernova were worth $2,138,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GEV. Principal Securities Inc. lifted its holdings in shares of GE Vernova by 29.0% in the fourth quarter. Principal Securities Inc. now owns 1,892 shares of the company's stock valued at $622,000 after purchasing an additional 425 shares in the last quarter. New York State Teachers Retirement System grew its stake in GE Vernova by 3.1% during the 4th quarter. New York State Teachers Retirement System now owns 242,128 shares of the company's stock valued at $79,643,000 after acquiring an additional 7,373 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of GE Vernova by 7.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 109,824 shares of the company's stock valued at $36,659,000 after purchasing an additional 7,970 shares during the period. O Neil Global Advisors Inc. acquired a new position in shares of GE Vernova in the 4th quarter valued at about $2,064,000. Finally, Axiom Investors LLC DE purchased a new stake in shares of GE Vernova in the fourth quarter worth approximately $123,157,000.

GE Vernova Trading Down 2.0%

GEV traded down $9.74 during midday trading on Friday, reaching $477.93. The company's stock had a trading volume of 2,432,081 shares, compared to its average volume of 3,280,691. The company has a fifty day simple moving average of $408.13 and a 200 day simple moving average of $365.41. The stock has a market cap of $130.44 billion, a P/E ratio of 85.96, a PEG ratio of 3.03 and a beta of 1.97. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $500.72.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.47) earnings per share. Sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. GE Vernova's payout ratio is 14.41%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GEV. Robert W. Baird upped their price objective on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Citigroup cut their price objective on GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Royal Bank of Canada lowered their target price on GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 18th. TD Cowen cut their price target on GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $404.56.

About GE Vernova

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.