Daymark Wealth Partners LLC Raises Stock Position in GE Vernova Inc. (NYSE:GEV)

Daymark Wealth Partners LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 13.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 7,010 shares of the company's stock after acquiring an additional 842 shares during the quarter. Daymark Wealth Partners LLC's holdings in GE Vernova were worth $2,140,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GEV. Moss Adams Wealth Advisors LLC purchased a new position in GE Vernova during the first quarter worth $205,000. Courier Capital LLC increased its stake in shares of GE Vernova by 15.2% during the first quarter. Courier Capital LLC now owns 2,094 shares of the company's stock valued at $639,000 after buying an additional 277 shares during the period. Wesbanco Bank Inc. increased its position in GE Vernova by 5.0% during the 1st quarter. Wesbanco Bank Inc. now owns 14,692 shares of the company's stock valued at $4,485,000 after purchasing an additional 701 shares during the period. First Citizens Bank & Trust Co. raised its stake in GE Vernova by 1.6% in the first quarter. First Citizens Bank & Trust Co. now owns 3,007 shares of the company's stock worth $918,000 after buying an additional 48 shares in the last quarter. Finally, Capital Investment Advisors LLC grew its stake in GE Vernova by 1.8% in the first quarter. Capital Investment Advisors LLC now owns 3,054 shares of the company's stock valued at $932,000 after purchasing an additional 55 shares during the last quarter.

GE Vernova Stock Performance

Shares of GE Vernova stock traded down $15.43 during trading hours on Tuesday, hitting $464.57. The company's stock had a trading volume of 3,940,910 shares, compared to its average volume of 3,290,604. The firm has a fifty day moving average of $392.70 and a 200-day moving average of $361.82. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $500.72. The stock has a market cap of $126.80 billion, a price-to-earnings ratio of 83.56, a P/E/G ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results 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 company had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the business posted ($0.47) EPS. GE Vernova's revenue for the quarter was up 10.6% on a year-over-year basis. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's payout ratio is presently 14.41%.

Analyst Ratings Changes

A number of research firms have recently weighed in on GEV. Morgan Stanley reissued an "overweight" rating and issued a $422.00 price objective (up previously from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Jefferies Financial Group lowered GE Vernova from a "buy" rating to a "hold" rating and increased their price objective for the company from $427.00 to $517.00 in a report on Thursday, May 29th. New Street Research set a $380.00 price objective on shares of GE Vernova in a research note on Wednesday, March 5th. Susquehanna restated a "positive" rating and issued a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. raised their target price on GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Seven 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 company's stock. According to data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and a consensus price target of $390.58.

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.