GPS Wealth Strategies Group LLC lifted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 437.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,809 shares of the company's stock after purchasing an additional 3,914 shares during the quarter. GPS Wealth Strategies Group LLC's holdings in GE Vernova were worth $1,468,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake in GE Vernova by 10.1% in the first quarter. Fifth Third Bancorp now owns 96,442 shares of the company's stock valued at $29,442,000 after purchasing an additional 8,864 shares in the last quarter. Simon Quick Advisors LLC boosted its holdings in shares of GE Vernova by 15.1% in the 1st quarter. Simon Quick Advisors LLC now owns 2,089 shares of the company's stock valued at $638,000 after buying an additional 274 shares during the last quarter. Investment Partners Asset Management Inc. grew its stake in shares of GE Vernova by 34.2% in the first quarter. Investment Partners Asset Management Inc. now owns 847 shares of the company's stock valued at $259,000 after buying an additional 216 shares in the last quarter. Northeast Investment Management increased its holdings in GE Vernova by 91.3% during the first quarter. Northeast Investment Management now owns 1,184 shares of the company's stock worth $361,000 after buying an additional 565 shares during the last quarter. Finally, Integrated Advisors Network LLC increased its holdings in GE Vernova by 10.4% during the first quarter. Integrated Advisors Network LLC now owns 1,531 shares of the company's stock worth $467,000 after buying an additional 144 shares during the last quarter.
GE Vernova Price Performance
GE Vernova stock traded down $10.38 during mid-day trading on Friday, reaching $477.29. 1,829,130 shares of the company were exchanged, compared to its average volume of 3,279,385. The firm has a market cap of $130.27 billion, a PE ratio of 85.83, a PEG ratio of 3.03 and a beta of 1.97. The company has a fifty day simple moving average of $404.31 and a 200-day simple moving average of $364.45. 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 released its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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%. GE Vernova's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.47) EPS. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's payout ratio is presently 14.41%.
Analyst Ratings Changes
A number of brokerages have commented on GEV. Baird R W upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on shares of GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Citigroup lowered their price target on GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. BMO Capital Markets upped their price objective on GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Finally, Wolfe Research downgraded GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday. Eight research analysts have rated the stock with a hold rating, twenty have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $395.98.
Check Out Our Latest Stock Analysis on GE Vernova
GE Vernova Company Profile
(
Free Report)
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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