Axxcess Wealth Management LLC Has $1.72 Million Position in GE Vernova Inc. (NYSE:GEV)

Axxcess Wealth Management LLC boosted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 39.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,619 shares of the company's stock after acquiring an additional 1,583 shares during the period. Axxcess Wealth Management LLC's holdings in GE Vernova were worth $1,715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC increased its holdings in shares of GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after purchasing an additional 817 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of GE Vernova by 79.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock worth $67,622,000 after purchasing an additional 98,034 shares during the period. Grandview Asset Management LLC increased its holdings in shares of GE Vernova by 48.8% during the 1st quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock worth $656,000 after purchasing an additional 705 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of GE Vernova during the 1st quarter worth about $328,000. Finally, GAMMA Investing LLC increased its holdings in shares of GE Vernova by 8.4% during the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock worth $2,142,000 after purchasing an additional 542 shares during the period.

Analyst Ratings Changes

Several research firms have recently issued reports on GEV. Robert W. Baird boosted their price objective on shares of GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Truist Financial set a $440.00 price objective on shares of GE Vernova in a report on Thursday, March 27th. Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. 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, Bank of America upped their target price on shares of GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova has an average rating of "Moderate Buy" and a consensus price target of $451.38.

GE Vernova Price Performance

Shares of GEV stock traded down $0.41 during trading hours on Friday, reaching $538.95. 2,285,780 shares of the company were exchanged, compared to its average volume of 3,318,687. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $546.65. The stock's fifty day moving average is $476.87 and its two-hundred day moving average is $389.56. The company has a market cap of $147.10 billion, a price-to-earnings ratio of 77.66, a P/E/G ratio of 4.15 and a beta of 1.86.

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, topping 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 in the prior year, the business earned ($0.47) earnings per share. GE Vernova's quarterly revenue was up 10.6% on a year-over-year basis. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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