HBK Sorce Advisory LLC Grows Stake in GE Vernova Inc. (NYSE:GEV)

HBK Sorce Advisory LLC grew its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 14.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,330 shares of the company's stock after acquiring an additional 546 shares during the quarter. HBK Sorce Advisory LLC's holdings in GE Vernova were worth $1,322,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Robert W. Baird increased their target price on GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Wolfe Research cut GE Vernova from an "outperform" rating to a "peer perform" rating in a research report 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 report on Wednesday, May 14th. Barclays upped their target price on shares of GE Vernova from $500.00 to $550.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Finally, The Goldman Sachs Group lifted their price target on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Eight research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and an average price target of $429.13.

GE Vernova Stock Performance

NYSE GEV opened at $502.99 on Thursday. The business's fifty day moving average is $436.25 and its 200 day moving average is $374.00. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $522.97. The company has a market capitalization of $137.28 billion, a PE ratio of 72.48, a price-to-earnings-growth ratio of 3.97 and a beta of 1.97.

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

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio is currently 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.

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