Golden State Wealth Management LLC Buys 817 Shares of GE Vernova Inc. (NYSE:GEV)

Golden State Wealth Management LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 201.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,222 shares of the company's stock after acquiring an additional 817 shares during the period. Golden State Wealth Management LLC's holdings in GE Vernova were worth $373,000 at the end of the most recent quarter.

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

GE Vernova Stock Up 2.7%

GEV traded up $13.79 during trading on Monday, hitting $530.83. The company had a trading volume of 2,265,795 shares, compared to its average volume of 3,309,276. The company has a market capitalization of $144.88 billion, a PE ratio of 76.49, a PEG ratio of 3.98 and a beta of 1.86. GE Vernova Inc. has a one year low of $150.01 and a one year high of $532.59. The firm's 50-day moving average price is $461.19 and its 200 day moving average price is $383.54.

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

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.19%. GE Vernova's dividend payout ratio is currently 14.41%.

Analyst Ratings Changes

Several analysts have weighed in on the company. TD Cowen dropped their price objective on GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Bank of America boosted their price target on shares of GE Vernova from $520.00 to $550.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Barclays lifted their target price on shares of GE Vernova from $500.00 to $550.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Finally, BMO Capital Markets increased their price target on GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $447.29.

About GE Vernova

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.