11,062 Shares in GE Vernova Inc. (NYSE:GEV) Bought by Channel Wealth LLC

Channel Wealth LLC purchased a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 11,062 shares of the company's stock, valued at approximately $3,377,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Principal Securities Inc. increased its stake in GE Vernova by 29.0% during the fourth quarter. Principal Securities Inc. now owns 1,892 shares of the company's stock valued at $622,000 after acquiring an additional 425 shares during the period. New York State Teachers Retirement System increased its position in shares of GE Vernova by 3.1% during the fourth quarter. New York State Teachers Retirement System now owns 242,128 shares of the company's stock valued at $79,643,000 after purchasing an additional 7,373 shares during the period. Entropy Technologies LP acquired a new position in shares of GE Vernova in the fourth quarter valued at $4,964,000. Schear Investment Advisers LLC lifted its position in GE Vernova by 10.4% in the fourth quarter. Schear Investment Advisers LLC now owns 9,399 shares of the company's stock worth $3,092,000 after purchasing an additional 888 shares during the period. Finally, Apollon Wealth Management LLC boosted its stake in GE Vernova by 13.3% during the fourth quarter. Apollon Wealth Management LLC now owns 7,932 shares of the company's stock worth $2,609,000 after buying an additional 933 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Morgan Stanley restated an "overweight" rating and issued a $422.00 price objective (up previously from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. CICC Research began coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. upped their price objective on GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Guggenheim restated a "buy" rating and set a $380.00 target price on shares of GE Vernova in a research report on Thursday, April 24th. Finally, Barclays boosted their target price on shares of GE Vernova from $427.00 to $500.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $385.78.

GE Vernova Stock Performance

GE Vernova stock traded up $2.75 during trading hours on Friday, reaching $487.06. 2,099,918 shares of the company's stock traded hands, compared to its average volume of 3,305,777. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $500.72. The firm has a market capitalization of $132.94 billion, a price-to-earnings ratio of 87.60, a PEG ratio of 3.03 and a beta of 1.97. The firm's 50 day moving average is $386.29 and its 200-day moving average is $359.63.

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

GE Vernova Dividend Announcement

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

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.