GE Vernova Inc. (NYSE:GEV) Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 46.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,157 shares of the company's stock after buying an additional 6,426 shares during the period. Exchange Traded Concepts LLC's holdings in GE Vernova were worth $6,154,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Brighton Jones LLC increased its stake in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after acquiring an additional 753 shares during the period. Valeo Financial Advisors LLC lifted its position in GE Vernova by 3.5% in the fourth quarter. Valeo Financial Advisors LLC now owns 6,462 shares of the company's stock worth $2,125,000 after purchasing an additional 220 shares during the period. WASHINGTON TRUST Co boosted its stake in GE Vernova by 1.9% during the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company's stock valued at $560,000 after purchasing an additional 31 shares in the last quarter. Beacon Capital Management LLC increased its position in shares of GE Vernova by 75.5% during the 4th quarter. Beacon Capital Management LLC now owns 172 shares of the company's stock valued at $57,000 after purchasing an additional 74 shares during the period. Finally, Everhart Financial Group Inc. raised its stake in shares of GE Vernova by 11.0% in the 4th quarter. Everhart Financial Group Inc. now owns 3,710 shares of the company's stock worth $1,220,000 after buying an additional 368 shares in the last quarter.

GE Vernova Stock Down 2.0%

Shares of GEV opened at $477.93 on Monday. The firm has a market cap of $130.44 billion, a price-to-earnings ratio of 85.96, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97. The company's fifty day moving average is $408.13 and its 200-day moving average is $365.83. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $500.72.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business's revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned ($0.47) earnings per share. As a group, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. GE Vernova's payout ratio is currently 14.41%.

Analysts Set New Price Targets

GEV has been the subject of several research reports. CICC Research started coverage on GE Vernova in a research note on Wednesday, February 19th. They set an "outperform" rating for the company. TD Cowen reduced their price objective on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Royal Bank of Canada dropped their target price on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. Morgan Stanley reissued an "overweight" rating and set a $422.00 target price (up from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. Finally, Jefferies Financial Group lowered shares of GE Vernova from a "buy" rating to a "hold" rating and lifted their price target for the stock from $427.00 to $517.00 in a research report on Thursday, May 29th. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $404.56.

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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