Fifth Third Wealth Advisors LLC Has $4.09 Million Stock Position in GE Vernova Inc. (NYSE:GEV)

Fifth Third Wealth Advisors LLC lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 20.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,395 shares of the company's stock after purchasing an additional 2,311 shares during the period. Fifth Third Wealth Advisors LLC's holdings in GE Vernova were worth $4,089,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its stake in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after purchasing an additional 753 shares during the period. Strategic Blueprint LLC lifted its position in shares of GE Vernova by 17.8% during the fourth quarter. Strategic Blueprint LLC now owns 1,166 shares of the company's stock worth $384,000 after purchasing an additional 176 shares in the last quarter. OLD National Bancorp IN purchased a new position in GE Vernova in the 4th quarter valued at about $326,000. Mediolanum International Funds Ltd acquired a new stake in GE Vernova during the 4th quarter valued at approximately $1,621,000. Finally, Cibc World Market Inc. increased its stake in shares of GE Vernova by 91.8% in the fourth quarter. Cibc World Market Inc. now owns 60,131 shares of the company's stock worth $19,779,000 after buying an additional 28,786 shares during the last quarter.

GE Vernova Stock Performance

Shares of GEV traded up $2.54 during trading hours on Thursday, reaching $490.67. 720,885 shares of the company traded hands, compared to its average volume of 3,322,654. The stock's fifty day moving average is $382.72 and its 200 day moving average is $358.53. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $500.72. The stock has a market cap of $133.92 billion, a P/E ratio of 88.25, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.37 by $0.54. The firm had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.47) EPS. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.20%. The ex-dividend date was Thursday, April 17th. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

Analyst Ratings Changes

Several equities analysts recently issued reports on GEV shares. Baird R W upgraded GE Vernova to a "strong-buy" rating in a research note on Thursday, February 13th. Susquehanna restated a "positive" rating and set a $499.00 price objective (up from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. New Street Research set a $380.00 price target on GE Vernova in a research note on Wednesday, March 5th. BMO Capital Markets increased their target price on shares of GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $422.00 price target (up previously from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $385.78.

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.