Sequoia Financial Advisors LLC Acquires 1,480 Shares of GE Vernova Inc. (NYSE:GEV)

Sequoia Financial Advisors LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,348 shares of the company's stock after buying an additional 1,480 shares during the quarter. Sequoia Financial Advisors LLC's holdings in GE Vernova were worth $7,128,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. FMR LLC grew its stake in shares of GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after buying an additional 814,155 shares during the last quarter. Capital International Investors lifted its holdings in shares of GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. Geode Capital Management LLC grew its stake in shares of GE Vernova by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after purchasing an additional 195,828 shares during the last quarter. Norges Bank acquired a new stake in GE Vernova in the fourth quarter valued at $1,109,720,000. Finally, Northern Trust Corp raised its position in GE Vernova by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after purchasing an additional 343,837 shares during the last quarter.

Analyst Ratings Changes

GEV has been the subject of several recent research reports. Morgan Stanley increased their price target on GE Vernova from $422.00 to $511.00 and gave the company an "overweight" rating in a research note on Tuesday. Jefferies Financial Group downgraded shares of GE Vernova from a "buy" rating to a "hold" rating and increased their target price for the company from $427.00 to $517.00 in a research report on Thursday, May 29th. Wolfe Research lowered shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Barclays upped their price objective on shares of GE Vernova from $500.00 to $550.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $429.13.

GE Vernova Stock Performance

GEV traded up $13.75 during mid-day trading on Friday, reaching $520.56. 9,147,914 shares of the stock were exchanged, compared to its average volume of 3,289,885. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $532.52. The stock has a market capitalization of $142.08 billion, a PE ratio of 75.01, a price-to-earnings-growth ratio of 3.90 and a beta of 1.97. The company has a 50 day moving average price of $439.93 and a two-hundred day moving average price of $375.18.

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

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be paid a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.19%. GE Vernova's payout ratio is presently 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.