Capital Planning Advisors LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Key Points

• Capital Planning Advisors LLC acquired 2,454 shares of GE Vernova Inc., valued at approximately $749,000, during the 1st quarter.
• Multiple large investors increased their stakes in GE Vernova, with Vanguard Group now holding 24.4 million shares valued at $7.4 billion.
• GE Vernova reported a quarterly earnings per share (EPS) of $1.86, exceeding expectations, with revenues of $9.11 billion for the quarter.

Capital Planning Advisors LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,454 shares of the company's stock, valued at approximately $749,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after buying an additional 753 shares in the last quarter. American Assets Inc. acquired a new stake in shares of GE Vernova in the 4th quarter worth approximately $658,000. Townsquare Capital LLC grew its holdings in shares of GE Vernova by 15.0% in the 4th quarter. Townsquare Capital LLC now owns 5,313 shares of the company's stock worth $1,748,000 after acquiring an additional 691 shares during the period. Sagespring Wealth Partners LLC acquired a new stake in shares of GE Vernova in the 4th quarter worth approximately $786,000. Finally, Seeds Investor LLC acquired a new stake in GE Vernova during the 4th quarter valued at $244,000.

GE Vernova Trading Down 2.5%

NYSE GEV traded down $16.54 on Wednesday, reaching $640.91. The company's stock had a trading volume of 262,545 shares, compared to its average volume of 3,573,062. The firm has a market cap of $174.47 billion, a PE ratio of 153.73, a price-to-earnings-growth ratio of 4.50 and a beta of 1.90. The business has a 50-day moving average price of $555.12 and a 200 day moving average price of $427.68. GE Vernova Inc. has a 52 week low of $173.07 and a 52 week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share 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 firm had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same period in the prior year, the firm earned $4.65 earnings per share. The company's quarterly revenue was up 11.1% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. TD Cowen lifted their price target on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Royal Bank Of Canada restated an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Glj Research started coverage on GE Vernova in a report on Monday, June 23rd. They set a "buy" rating on the stock. Finally, The Goldman Sachs Group lifted their price target on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Ten research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $560.21.

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.