EverSource Wealth Advisors LLC Buys 598 Shares of GE Vernova Inc. $GEV

Key Points

• EverSource Wealth Advisors LLC increased its stake in GE Vernova Inc. by 29.4%, owning 2,629 shares valued at $803,000 as of the latest SEC disclosure.
• Several institutional investors significantly boosted their holdings, with GAMMA Investing LLC increasing its stake by 32,984.2% to 2,141,539 shares worth $653.77 million.
• GE Vernova declared a quarterly dividend of $0.25, representing a 0.2% yield, with a payout ratio of 24.10% as of the recent reporting period.

EverSource Wealth Advisors LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 29.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,629 shares of the company's stock after purchasing an additional 598 shares during the period. EverSource Wealth Advisors LLC's holdings in GE Vernova were worth $803,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of GEV. Navigoe LLC bought a new position in GE Vernova in the fourth quarter valued at approximately $27,000. Clarity Asset Management Inc. bought a new stake in GE Vernova in the 4th quarter valued at $28,000. IMA Advisory Services Inc. acquired a new position in GE Vernova in the 1st quarter worth $27,000. Orion Capital Management LLC bought a new position in GE Vernova during the 4th quarter worth about $30,000. Finally, EQ Wealth Advisors LLC bought a new position in GE Vernova during the 1st quarter worth about $27,000.

GE Vernova Trading Down 2.7%

Shares of GE Vernova stock traded down $16.5710 during trading on Wednesday, hitting $586.5590. 1,378,956 shares of the stock were exchanged, compared to its average volume of 3,554,068. The stock has a market capitalization of $159.68 billion, a price-to-earnings ratio of 141.53, a price-to-earnings-growth ratio of 4.32 and a beta of 1.90. The company has a fifty day moving average price of $569.18 and a 200-day moving average price of $436.80. GE Vernova Inc. has a 1-year low of $173.07 and a 1-year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova's revenue was up 11.1% on a year-over-year basis. During the same period last year, the business posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Monday, July 21st. GE Vernova's payout ratio is currently 24.10%.

Wall Street Analyst Weigh In

GEV has been the topic of a number of research reports. BMO Capital Markets boosted their price target on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. TD Cowen boosted their target price on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. The Goldman Sachs Group upped their price target on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Morgan Stanley raised their price target on shares of GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

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.