Empirical Financial Services LLC d.b.a. Empirical Wealth Management Grows Stake in GE Vernova Inc. (NYSE:GEV)

Key Points

• Empirical Wealth Management increased its stake in GE Vernova Inc. by 110.8% in Q1, holding 3,440 shares valued at approximately $1,050,000 by the end of the quarter.
• GE Vernova recently reported $1.86 EPS for the last quarter, beating expectations, with a year-over-year revenue increase of 11.1%.
• The company declared a $0.25 quarterly dividend with an annualized yield of 0.2%, payable to stockholders on August 18th.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 110.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 3,440 shares of the company's stock after acquiring an additional 1,808 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in GE Vernova were worth $1,050,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Capital International Investors lifted its position in GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after acquiring an additional 2,994,660 shares during the period. GAMMA Investing LLC boosted its stake in shares of GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after acquiring an additional 2,135,066 shares during the last quarter. FMR LLC increased its holdings in GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after acquiring an additional 814,155 shares in the last quarter. TD Asset Management Inc grew its position in shares of GE Vernova by 627.2% during the first quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock worth $282,946,000 after purchasing an additional 799,388 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in GE Vernova by 148.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company's stock worth $379,974,000 after purchasing an additional 690,513 shares in the last quarter.

GE Vernova Trading Down 0.5%

Shares of GEV stock opened at $656.66 on Friday. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $677.29. The stock has a market cap of $178.76 billion, a price-to-earnings ratio of 158.23, a PEG ratio of 4.56 and a beta of 1.90. The company's 50-day moving average price is $530.40 and its 200-day moving average price is $415.77.

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

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GEV. Jefferies Financial Group downgraded shares of GE Vernova from a "buy" rating to a "hold" rating and increased their price target for the company from $427.00 to $517.00 in a report on Thursday, May 29th. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Susquehanna boosted their target price on GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Finally, BMO Capital Markets increased their price target on GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $560.21.

GE Vernova Company 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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