GE Vernova Inc. (NYSE:GEV) Shares Purchased by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. increased its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 235.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,342 shares of the company's stock after acquiring an additional 1,643 shares during the quarter. Retirement Planning Co of New England Inc.'s holdings in GE Vernova were worth $715,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC boosted its stake 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 lifted its position in GE Vernova by 79.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock valued at $67,622,000 after buying an additional 98,034 shares during the last quarter. Grandview Asset Management LLC lifted its position in GE Vernova by 48.8% in the first quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock valued at $656,000 after buying an additional 705 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in GE Vernova during the first quarter worth about $328,000. Finally, GAMMA Investing LLC increased its stake in GE Vernova by 8.4% during the first quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock worth $2,142,000 after purchasing an additional 542 shares during the period.

Analysts Set New Price Targets

Several brokerages recently weighed in on GEV. Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Barclays increased their price objective on GE Vernova from $550.00 to $580.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Wall Street Zen raised GE Vernova from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Robert W. Baird increased their price target on GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Guggenheim reaffirmed a "buy" rating and set a $380.00 price target on shares of GE Vernova in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $468.88.

GE Vernova Trading Up 0.9%

Shares of GEV stock traded up $4.85 during mid-day trading on Friday, reaching $575.02. The stock had a trading volume of 2,051,713 shares, compared to its average volume of 3,302,162. The company has a market cap of $156.94 billion, a P/E ratio of 82.86, a price-to-earnings-growth ratio of 4.18 and a beta of 1.86. The business has a 50-day simple moving average of $489.76 and a 200 day simple moving average of $395.72. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $581.27.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates 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 10.10% and a net margin of 5.42%. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.47) EPS. Research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio is presently 14.41%.

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.