Independent Advisor Alliance Purchases 1,026 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• Independent Advisor Alliance increased its stake in GE Vernova Inc. by 12.3%, owning 9,338 shares valued at approximately $2.85 million as of the latest SEC filing.
• Several major institutional investors, including Capital International Investors and GAMMA Investing LLC, have significantly increased their holdings in GE Vernova during recent quarters, indicating growing confidence in the company's performance.
• Analysts have raised their price targets for GE Vernova shares, with reports from Bank of America and JPMorgan Chase & Co. predicting prices as high as $715.00, and most analysts assigning a "buy" or "outperform" rating to the stock.

Independent Advisor Alliance increased its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 12.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,338 shares of the company's stock after buying an additional 1,026 shares during the period. Independent Advisor Alliance's holdings in GE Vernova were worth $2,851,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Lockheed Martin Investment Management Co. bought a new position in GE Vernova during the 1st quarter worth approximately $458,000. Golden State Wealth Management LLC raised its holdings in GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after purchasing an additional 817 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in GE Vernova by 79.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock worth $67,622,000 after purchasing an additional 98,034 shares during the last quarter. Grandview Asset Management LLC raised its holdings in GE Vernova by 48.8% during the 1st quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock worth $656,000 after purchasing an additional 705 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in GE Vernova during the 1st quarter worth approximately $328,000.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Barclays raised their price target on shares of GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Mizuho downgraded shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target for the company. in a research report on Monday, July 28th. TD Cowen lifted their price objective on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a report on Thursday, July 24th. Finally, UBS Group started coverage on GE Vernova in a research note on Monday, July 7th. They issued a "buy" rating and a $614.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Stock Down 1.5%

Shares of GE Vernova stock traded down $9.38 on Thursday, hitting $624.93. The stock had a trading volume of 2,529,391 shares, compared to its average volume of 3,588,797. The stock's 50-day simple moving average is $558.05 and its two-hundred day simple moving average is $429.11. GE Vernova Inc. has a one year low of $173.07 and a one year high of $677.29. The stock has a market cap of $170.12 billion, a price-to-earnings ratio of 150.58, a PEG ratio of 4.54 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data 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 during 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 revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.65 earnings per share. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed 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 presently 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.