CMG Global Holdings LLC Has $1.55 Million Position in GE Vernova Inc. (NYSE:GEV)

CMG Global Holdings LLC cut its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 30.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,087 shares of the company's stock after selling 2,275 shares during the quarter. CMG Global Holdings LLC's holdings in GE Vernova were worth $1,553,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new position in shares of GE Vernova in the first quarter valued at approximately $49,000. New Wave Wealth Advisors LLC increased its holdings in GE Vernova by 217.4% during the 1st quarter. New Wave Wealth Advisors LLC now owns 765 shares of the company's stock valued at $234,000 after purchasing an additional 524 shares in the last quarter. Amalgamated Bank raised its position in GE Vernova by 1.2% in the 1st quarter. Amalgamated Bank now owns 54,319 shares of the company's stock valued at $16,583,000 after purchasing an additional 652 shares during the last quarter. Mmbg Investment Advisors CO. acquired a new position in GE Vernova in the first quarter worth $266,000. Finally, Avidian Wealth Enterprises LLC grew its holdings in shares of GE Vernova by 23.5% during the first quarter. Avidian Wealth Enterprises LLC now owns 767 shares of the company's stock worth $234,000 after purchasing an additional 146 shares during the last quarter.

GE Vernova Stock Up 2.7%

Shares of NYSE GEV opened at $520.56 on Monday. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $532.59. The stock has a market cap of $142.08 billion, a price-to-earnings ratio of 75.01, a P/E/G ratio of 4.03 and a beta of 1.97. The company's fifty day moving average is $443.89 and its 200-day moving average is $377.07.

GE Vernova (NYSE:GEV - Get Free Report) last posted 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. 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 analyst estimates of $7.56 billion. During the same period in the previous year, the company posted ($0.47) earnings per share. The company's revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.19%. GE Vernova's dividend payout ratio is presently 14.41%.

Analysts Set New Price Targets

A number of research firms recently issued reports on GEV. Barclays lifted their price target on GE Vernova from $500.00 to $550.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Citigroup dropped their target price on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. TD Cowen reduced their target price on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. BMO Capital Markets raised their price target on shares of GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Finally, Bank of America upped their price objective on GE Vernova from $520.00 to $550.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Eight research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $429.13.

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.

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