HB Wealth Management LLC Boosts Holdings in GE Vernova Inc. (NYSE:GEV)

Key Points

• HB Wealth Management LLC increased its stake in GE Vernova Inc. by 92.8%, acquiring an additional 5,521 shares during the first quarter, bringing its total holdings to 11,470 shares valued at approximately $3,502,000.
• GE Vernova reported solid quarterly earnings, achieving an EPS of $1.86 which surpassed expectations, and a revenue increase of 11.1% year-over-year, totaling $9.11 billion.
• Several analysts have raised their price targets for GE Vernova, with JPMorgan Chase setting a target at $715.00, reflecting a bullish outlook on the company's growth potential.

HB Wealth Management LLC grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 92.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,470 shares of the company's stock after acquiring an additional 5,521 shares during the quarter. HB Wealth Management LLC's holdings in GE Vernova were worth $3,502,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital International Investors lifted its stake in shares of GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after acquiring an additional 2,994,660 shares during the last quarter. GAMMA Investing LLC increased its stake in GE Vernova by 32,984.2% in the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after buying an additional 2,135,066 shares during the period. Massachusetts Financial Services Co. MA increased its stake in GE Vernova by 1,638.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock worth $432,309,000 after buying an additional 1,238,690 shares during the period. FMR LLC increased its stake in GE Vernova by 3.4% in the 4th 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 period. Finally, Jacobs Levy Equity Management Inc. increased its stake in GE Vernova by 148.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company's stock worth $379,974,000 after buying an additional 690,513 shares during the period.

GE Vernova Stock Up 1.1%

Shares of GEV traded up $7.50 during mid-day trading on Thursday, hitting $662.50. The company had a trading volume of 1,989,234 shares, compared to its average volume of 3,667,224. The business's 50-day simple moving average is $522.53 and its 200-day simple moving average is $411.84. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $677.29. The stock has a market cap of $180.34 billion, a PE ratio of 159.86, a P/E/G ratio of 4.37 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same quarter last year, the firm posted $4.65 earnings per share. GE Vernova's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.15%. GE Vernova's dividend payout ratio (DPR) is 24.10%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. 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. Bank of America raised their price target on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Susquehanna raised their price target on shares of GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company raised their price target on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $560.21.

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.