Cetera Investment Advisers Buys 12,107 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• Cetera Investment Advisers increased its holdings in GE Vernova Inc. by 18.5% during the first quarter, acquiring an additional 12,107 shares, bringing its total ownership to 77,531 shares valued at approximately $23.67 million.
• GE Vernova reported $1.86 earnings per share for the last quarter, exceeding analyst expectations of $1.63, alongside a revenue of $9.11 billion, which is a 11.1% increase year-over-year.
• The company's quarterly dividend is set at $0.25 per share, with an annualized dividend yield of 0.16%, and a payout ratio of 24.10%.

Cetera Investment Advisers boosted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 18.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,531 shares of the company's stock after purchasing an additional 12,107 shares during the period. Cetera Investment Advisers' holdings in GE Vernova were worth $23,669,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GEV. Stonebridge Financial Group LLC increased its stake in shares of GE Vernova by 8.9% in the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after purchasing an additional 28 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of GE Vernova by 0.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock worth $2,598,000 after acquiring an additional 30 shares in the last quarter. Fulcrum Equity Management lifted its holdings in GE Vernova by 3.6% during the 4th quarter. Fulcrum Equity Management now owns 886 shares of the company's stock worth $291,000 after buying an additional 31 shares in the last quarter. Dopkins Wealth Management LLC raised its position in shares of GE Vernova by 4.9% during the 1st quarter. Dopkins Wealth Management LLC now owns 668 shares of the company's stock valued at $204,000 after acquiring an additional 31 shares during the last quarter. Finally, Rothschild Investment LLC increased its position in shares of GE Vernova by 1.7% in the 1st quarter. Rothschild Investment LLC now owns 1,965 shares of the company's stock valued at $600,000 after buying an additional 33 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GEV. TD Cowen increased their target price on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Glj Research initiated coverage on shares of GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating for the company. JPMorgan Chase & Co. raised their target price on shares of GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Bank of America boosted their target price on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Finally, Jefferies Financial Group cut GE Vernova from a "buy" rating to a "hold" rating and upped their target price for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Trading Up 2.0%

NYSE GEV traded up $13.40 on Thursday, hitting $668.40. The company's stock had a trading volume of 1,757,854 shares, compared to its average volume of 3,665,513. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $677.29. The company's 50-day simple moving average is $522.53 and its 200 day simple moving average is $411.84. The firm has a market cap of $181.95 billion, a P/E ratio of 161.12, a PEG ratio of 4.37 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The business had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter last year, the business posted $4.65 EPS. The business's revenue was up 11.1% on a year-over-year basis. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is currently 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.