GE Vernova Inc. (NYSE:GEV) Shares Purchased by Golden State Wealth Management LLC

Golden State Wealth Management LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 562.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,681 shares of the company's stock after purchasing an additional 2,276 shares during the quarter. Golden State Wealth Management LLC's holdings in GE Vernova were worth $818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

GE Vernova Price Performance

GEV stock traded up $13.75 during midday trading on Friday, hitting $520.56. 9,147,914 shares of the stock traded hands, compared to its average volume of 3,292,886. The firm has a market cap of $142.08 billion, a P/E ratio of 75.01, a PEG ratio of 3.94 and a beta of 1.97. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $532.52. The stock's fifty day simple moving average is $439.93 and its 200-day simple moving average is $375.18.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 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 business had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the previous year, the company earned ($0.47) earnings per share. The company's quarterly revenue was up 10.6% on a year-over-year basis. On average, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be given 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 dividend payout ratio (DPR) is presently 14.41%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GEV. Truist Financial set a $440.00 price target on GE Vernova in a research report on Thursday, March 27th. Morgan Stanley boosted their price target on GE Vernova from $422.00 to $511.00 and gave the stock an "overweight" rating in a report on Tuesday. BMO Capital Markets boosted their price target on shares of GE Vernova from $381.00 to $522.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Citigroup dropped their price objective on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, New Street Research set a $380.00 price objective on shares of GE Vernova in a research report on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $429.13.

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.