Earned Wealth Advisors LLC Acquires Shares of 886 GE Vernova Inc. (NYSE:GEV)

Key Points

• Earned Wealth Advisors LLC has acquired 886 shares of GE Vernova Inc. valued at approximately $270,000 in Q1, highlighting growing institutional interest in the company.
• GE Vernova recently reported earnings of $1.86 per share for Q2, surpassing estimates, and posted revenue of $9.11 billion, which represents an 11.1% year-over-year increase.
• Several analysts have raised their price targets for GE Vernova, with Morgan Stanley's new target at $675.00 and Wells Fargo's at $697.00, suggesting strong bullish sentiment towards the stock.

Earned Wealth Advisors LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 886 shares of the company's stock, valued at approximately $270,000.

A number of other hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC grew its position in shares of GE Vernova by 201.7% in the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after purchasing an additional 817 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in GE Vernova by 79.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock worth $67,622,000 after acquiring an additional 98,034 shares during the period. Grandview Asset Management LLC grew its position in GE Vernova by 48.8% in the first quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock worth $656,000 after acquiring an additional 705 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in GE Vernova in the first quarter worth approximately $328,000. Finally, GAMMA Investing LLC grew its position in GE Vernova by 8.4% in the first quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock worth $2,142,000 after acquiring an additional 542 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GEV shares. Royal Bank Of Canada reiterated an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. The Goldman Sachs Group increased their price objective on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Susquehanna upped their price target on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Finally, TD Cowen upped 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. Ten equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $560.21.

GE Vernova Stock Performance

Shares of GEV stock traded up $11.80 during mid-day trading on Wednesday, hitting $661.52. 645,746 shares of the stock were exchanged, compared to its average volume of 3,631,998. The stock's fifty day simple moving average is $537.94 and its two-hundred day simple moving average is $419.58. The stock has a market capitalization of $180.08 billion, a price-to-earnings ratio of 158.59, a P/E/G ratio of 4.58 and a beta of 1.90. GE Vernova Inc. has a 12-month low of $164.69 and a 12-month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.65 EPS. On average, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared 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. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova's payout ratio is 24.10%.

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.