GE Vernova Inc. (NYSE:GEV) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 11.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,204 shares of the company's stock after acquiring an additional 762 shares during the quarter. Parallel Advisors LLC's holdings in GE Vernova were worth $2,199,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. MRP Capital Investments LLC bought a new position in shares of GE Vernova in the fourth quarter worth about $25,000. Fairway Wealth LLC boosted its position in GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after buying an additional 55 shares during the period. Pineridge Advisors LLC grew its stake in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after acquiring an additional 69 shares in the last quarter. Navigoe LLC bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $27,000. Finally, Clarity Asset Management Inc. bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $28,000.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Jefferies Financial Group lowered shares of GE Vernova from a "buy" rating to a "hold" rating and upped their price objective for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. Barclays upped their price objective on GE Vernova from $427.00 to $500.00 and gave the stock an "overweight" rating in a research note on Friday. Citigroup cut their price objective on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. New Street Research set a $380.00 price target on shares of GE Vernova in a report on Wednesday, March 5th. Finally, Susquehanna reaffirmed a "positive" rating and set a $499.00 price target (up from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and an average price target of $385.78.

GE Vernova Stock Performance

Shares of NYSE GEV traded up $8.61 during mid-day trading on Tuesday, reaching $493.77. The company's stock had a trading volume of 3,476,219 shares, compared to its average volume of 3,345,537. The stock has a market capitalization of $134.77 billion, a P/E ratio of 88.81, a P/E/G ratio of 3.03 and a beta of 1.97. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $499.90. The stock has a 50-day moving average of $375.20 and a two-hundred day moving average of $356.68.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business's revenue was up 10.6% on a year-over-year basis. During the same period last year, the company posted ($0.47) EPS. Analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.20%. The ex-dividend date was Thursday, April 17th. GE Vernova's payout ratio is currently 14.41%.

GE Vernova Company 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.