Bulltick Wealth Management LLC Purchases 5,027 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• Bulltick Wealth Management LLC increased its stake in GE Vernova Inc. by 47.5% in the first quarter, now owning 15,608 shares valued at $4.77 million, accounting for 1.3% of its total portfolio.
• As of the latest quarter, GE Vernova reported earnings of $1.86 per share, exceeding expectations, with a net revenue of $9.11 billion, marking an 11.1% year-over-year increase.
• The company recently declared a quarterly dividend of $0.25, representing an annual yield of 0.2%, with a payout ratio of 24.10%.

Bulltick Wealth Management LLC lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 47.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 15,608 shares of the company's stock after acquiring an additional 5,027 shares during the period. GE Vernova makes up about 1.3% of Bulltick Wealth Management LLC's investment portfolio, making the stock its 23rd biggest position. Bulltick Wealth Management LLC's holdings in GE Vernova were worth $4,765,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GEV. Lockheed Martin Investment Management Co. acquired a new stake in shares of GE Vernova during the 1st quarter worth approximately $458,000. Golden State Wealth Management LLC lifted its position in shares of GE Vernova by 201.7% in 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 in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of GE Vernova by 79.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock worth $67,622,000 after purchasing an additional 98,034 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in GE Vernova by 8.5% during the first quarter. Public Sector Pension Investment Board now owns 37,620 shares of the company's stock worth $11,485,000 after buying an additional 2,942 shares during the last quarter. Finally, Grandview Asset Management LLC increased its holdings in shares of GE Vernova by 48.8% in the first 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.

Analyst Ratings Changes

Several equities analysts recently commented on GEV shares. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Barclays upped their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Wall Street Zen cut shares of GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Citigroup upped their price objective on shares of GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Robert W. Baird increased their target price on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, GE Vernova currently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Price Performance

Shares of NYSE GEV traded down $22.65 during mid-day trading on Wednesday, reaching $634.79. 3,933,173 shares of the company's stock were exchanged, compared to its average volume of 2,795,480. The firm has a 50-day moving average price of $558.05 and a two-hundred day moving average price of $429.11. GE Vernova Inc. has a 52 week low of $173.07 and a 52 week high of $677.29. The firm has a market capitalization of $172.80 billion, a price-to-earnings ratio of 152.96, a price-to-earnings-growth ratio of 4.54 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the previous year, the firm earned $4.65 EPS. The company's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, sell-side 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. Investors of record on Monday, July 21st will be given a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's payout ratio is presently 24.10%.

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.