Elyxium Wealth LLC Invests $263,000 in GE Vernova Inc. (NYSE:GEV)

Elyxium Wealth LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 860 shares of the company's stock, valued at approximately $263,000.

Other hedge funds also recently bought and sold shares of the company. Navigoe LLC purchased a new position in GE Vernova during the 4th quarter valued at about $27,000. EQ Wealth Advisors LLC purchased a new position in GE Vernova during the 1st quarter valued at about $27,000. Clarity Asset Management Inc. purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $28,000. Pinpoint Asset Management Ltd purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $30,000. Finally, Orion Capital Management LLC purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $30,000.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Susquehanna reiterated a "positive" rating and set a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. Guggenheim reiterated a "buy" rating and set a $380.00 target price on shares of GE Vernova in a report on Thursday, April 24th. Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Truist Financial set a $440.00 target price on GE Vernova in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. upped their target price on GE Vernova from $460.00 to $620.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $468.88.

GE Vernova Price Performance

GEV stock opened at $575.02 on Monday. The company has a market cap of $156.94 billion, a P/E ratio of 82.86, a price-to-earnings-growth ratio of 4.33 and a beta of 1.86. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $589.44. The stock's fifty day moving average price is $493.30 and its 200-day moving average price is $398.31.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The company's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the business posted ($0.47) EPS. As a group, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be paid a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.17%. GE Vernova's dividend payout ratio (DPR) is currently 14.41%.

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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