GE Vernova Inc. (NYSE:GEV) Shares Purchased by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC boosted its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 217.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 765 shares of the company's stock after acquiring an additional 524 shares during the quarter. New Wave Wealth Advisors LLC's holdings in GE Vernova were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings 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 acquiring an additional 98,034 shares during the last quarter. Grandview Asset Management LLC raised its stake in shares of GE Vernova by 48.8% in the 1st quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock valued at $656,000 after acquiring an additional 705 shares during the period. GAMMA Investing LLC raised its stake in shares of GE Vernova by 8.4% in the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock valued at $2,142,000 after acquiring an additional 542 shares during the period. State of Alaska Department of Revenue raised its stake in shares of GE Vernova by 2.9% in the 1st quarter. State of Alaska Department of Revenue now owns 32,340 shares of the company's stock valued at $9,872,000 after acquiring an additional 910 shares during the period. Finally, Flagship Harbor Advisors LLC raised its stake in shares of GE Vernova by 21.3% in the 1st quarter. Flagship Harbor Advisors LLC now owns 2,435 shares of the company's stock valued at $743,000 after acquiring an additional 427 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GEV shares. Morgan Stanley raised their target price on shares of GE Vernova from $422.00 to $511.00 and gave the company an "overweight" rating in a research note on Tuesday, June 24th. Glj Research started coverage on shares of GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating on the stock. Jefferies Financial Group downgraded shares of GE Vernova from a "buy" rating to a "hold" rating and raised their target price for the company from $427.00 to $517.00 in a research note on Thursday, May 29th. Susquehanna reissued a "positive" rating and issued a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Finally, Truist Financial set a $440.00 price target on shares of GE Vernova in a research note on Thursday, March 27th. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $429.13.

GE Vernova Stock Up 2.7%

GE Vernova stock opened at $520.56 on Monday. The firm has a 50-day moving average price of $443.89 and a two-hundred day moving average price of $377.07. The firm has a market capitalization of $142.08 billion, a price-to-earnings ratio of 75.01, a PEG ratio of 4.03 and a beta of 1.97. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $532.59.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. The firm had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. GE Vernova's revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.47) EPS. Research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.19%. GE Vernova's dividend payout ratio (DPR) is 14.41%.

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.

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