BNC Wealth Management LLC Buys 6,247 Shares of GE Vernova Inc. (NYSE:GEV)

BNC Wealth Management LLC lifted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 661.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,192 shares of the company's stock after buying an additional 6,247 shares during the period. BNC Wealth Management LLC's holdings in GE Vernova were worth $2,196,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $1,109,720,000. Capital International Investors boosted its position in shares of GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of GE Vernova by 32,984.2% in the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after purchasing an additional 2,135,066 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of GE Vernova by 1,638.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock worth $432,309,000 after purchasing an additional 1,238,690 shares in the last quarter. Finally, FMR LLC boosted its position in shares of GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after purchasing an additional 814,155 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently commented on GEV. New Street Research set a $380.00 price target on GE Vernova in a research report on Wednesday, March 5th. Bank of America boosted their price objective on shares of GE Vernova from $520.00 to $550.00 and gave the stock a "buy" rating in a report on Wednesday. Morgan Stanley restated an "overweight" rating and issued a $422.00 price objective (up from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. CICC Research started coverage on shares of GE Vernova in a report on Wednesday, February 19th. They issued an "outperform" rating for the company. Finally, The Goldman Sachs Group boosted their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and an average target price of $404.56.

GE Vernova Price Performance

Shares of NYSE:GEV traded down $9.74 during midday trading on Friday, hitting $477.93. The company had a trading volume of 2,432,081 shares, compared to its average volume of 3,280,691. The company has a market cap of $130.44 billion, a price-to-earnings ratio of 85.96, a PEG ratio of 3.03 and a beta of 1.97. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $500.72. The company has a fifty day moving average of $408.13 and a two-hundred day moving average of $365.41.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results 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 company had revenue of $8.03 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.47) EPS. Research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

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.