Avantax Advisory Services Inc. Buys 769 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• Avantax Advisory Services Inc. has increased its stake in GE Vernova Inc. by 10.3%, holding 8,202 shares valued at approximately $2.5 million.
• GE Vernova reported a better-than-expected EPS of $1.86 for the quarter, surpassing analysts' estimates and showing an 11.1% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.25, with an annualized yield of 0.16% and a payout ratio of 24.1%.

Avantax Advisory Services Inc. lifted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 10.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,202 shares of the company's stock after buying an additional 769 shares during the quarter. Avantax Advisory Services Inc.'s holdings in GE Vernova were worth $2,504,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GEV. Capital International Investors raised its holdings in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. GAMMA Investing LLC grew its position in GE Vernova by 32,984.2% in the first 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 period. Massachusetts Financial Services Co. MA grew its position in GE Vernova by 1,638.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock worth $432,309,000 after acquiring an additional 1,238,690 shares during the period. FMR LLC boosted its position in shares of GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after buying an additional 814,155 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of GE Vernova by 148.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company's stock worth $379,974,000 after buying an additional 690,513 shares during the period.

Analysts Set New Price Targets

GEV has been the topic of a number of analyst reports. Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. lifted their price objective on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Barclays lifted their price target on shares of GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Morgan Stanley lifted their price objective on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, BMO Capital Markets boosted their price target on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $560.21.

GE Vernova Stock Performance

Shares of NYSE:GEV traded down $3.63 during trading hours on Friday, hitting $656.66. The stock had a trading volume of 3,074,814 shares, compared to its average volume of 3,673,196. The stock's fifty day simple moving average is $526.57 and its 200 day simple moving average is $413.87. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $677.29. The firm has a market capitalization of $178.76 billion, a price-to-earnings ratio of 158.23, a PEG ratio of 4.53 and a beta of 1.86.

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

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued 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 dividend payout ratio (DPR) is 24.10%.

GE Vernova 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.