BLB&B Advisors LLC Purchases 21,268 Shares of GE Vernova Inc. (NYSE:GEV)

BLB&B Advisors LLC boosted its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 1,510.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,676 shares of the company's stock after buying an additional 21,268 shares during the period. BLB&B Advisors LLC's holdings in GE Vernova were worth $6,923,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. MRP Capital Investments LLC acquired a new stake in GE Vernova in the fourth quarter worth $25,000. Fairway Wealth LLC boosted its position in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Navigoe LLC bought a new position in shares of GE Vernova during the 4th quarter worth about $27,000. EQ Wealth Advisors LLC acquired a new stake in shares of GE Vernova in the 1st quarter valued at about $27,000. Finally, Clarity Asset Management Inc. bought a new stake in GE Vernova in the 4th quarter valued at about $28,000.

GE Vernova Price Performance

NYSE:GEV traded down $24.26 during mid-day trading on Tuesday, reaching $504.89. 6,521,882 shares of the company's stock traded hands, compared to its average volume of 3,298,778. The company has a 50 day moving average price of $448.23 and a 200-day moving average price of $378.45. The firm has a market capitalization of $137.80 billion, a price-to-earnings ratio of 72.75, a PEG ratio of 4.03 and a beta of 1.97. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $532.59.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the previous year, the firm earned ($0.47) earnings per share. The business's revenue was up 10.6% compared to the same quarter last year. As a group, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. GE Vernova's dividend payout ratio is 14.41%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GEV. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Jefferies Financial Group cut shares of GE Vernova from a "buy" rating to a "hold" rating and raised their price target for the company from $427.00 to $517.00 in a research report on Thursday, May 29th. Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Wall Street Zen raised GE Vernova from a "hold" rating to a "buy" rating in a research note on Friday. Finally, TD Cowen decreased their price target on GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Eight investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus target price of $429.13.

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.