Crescent Grove Advisors LLC Buys New Shares in GE Vernova Inc. (NYSE:GEV)

Crescent Grove Advisors LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 971 shares of the company's stock, valued at approximately $296,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GEV. MRP Capital Investments LLC acquired a new stake in GE Vernova during the fourth quarter valued at approximately $25,000. Fairway Wealth LLC lifted its stake in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Navigoe LLC purchased a new stake in shares of GE Vernova in the 4th quarter valued at approximately $27,000. EQ Wealth Advisors LLC acquired a new position in GE Vernova in the 1st quarter worth approximately $27,000. Finally, Clarity Asset Management Inc. acquired a new position in GE Vernova in the 4th quarter worth approximately $28,000.

GE Vernova Trading Up 2.7%

GE Vernova stock opened at $520.56 on Friday. The company has a market capitalization of $142.08 billion, a P/E ratio of 75.01, a P/E/G ratio of 4.03 and a beta of 1.97. The firm's fifty day simple moving average is $443.89 and its 200-day simple moving average is $376.74. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $532.59.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The business had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the firm earned ($0.47) EPS. GE Vernova's revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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 paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. GE Vernova's payout ratio is presently 14.41%.

Analyst Ratings Changes

Several equities analysts have weighed in on GEV shares. Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Bank of America lifted their price objective on shares of GE Vernova from $520.00 to $550.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. BMO Capital Markets lifted their price objective on shares of GE Vernova from $381.00 to $522.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Citigroup lowered their price objective on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Glj Research started coverage on shares of GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating on the stock. Eight equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $429.13.

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.

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