GE Vernova Inc. (NYSE:GEV) Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management grew its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 17.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 4,757 shares of the company's stock after acquiring an additional 716 shares during the period. Ritholtz Wealth Management's holdings in GE Vernova were worth $1,452,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. MRP Capital Investments LLC acquired a new stake in GE Vernova during the 4th quarter valued at $25,000. Fairway Wealth LLC increased its stake in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Navigoe LLC acquired a new position in shares of GE Vernova in the fourth quarter worth $27,000. Clarity Asset Management Inc. acquired a new position in shares of GE Vernova in the fourth quarter worth $28,000. Finally, Pinpoint Asset Management Ltd acquired a new position in shares of GE Vernova in the fourth quarter worth $30,000.

Analysts Set New Price Targets

GEV has been the subject of a number of recent research reports. Jefferies Financial Group cut 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 report on Thursday, May 29th. Royal Bank of Canada decreased their price target on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. New Street Research set a $380.00 price target on shares of GE Vernova in a report on Wednesday, March 5th. Citigroup decreased their price target on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, BMO Capital Markets increased their target price on shares of GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $404.56.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $487.69 on Tuesday. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $500.72. The stock has a 50 day moving average price of $412.15 and a two-hundred day moving average price of $366.91. The stock has a market capitalization of $133.11 billion, a PE ratio of 87.71, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to analysts' expectations 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 quarter in the previous year, the firm earned ($0.47) earnings per share. Research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. GE Vernova's payout ratio is 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.

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