HBW Advisory Services LLC Purchases Shares of 810 GE Vernova Inc. (NYSE:GEV)

HBW Advisory Services LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 810 shares of the company's stock, valued at approximately $247,000.

Several other hedge funds have also modified their holdings of the business. MRP Capital Investments LLC acquired a new position in GE Vernova during the fourth quarter worth $25,000. Fairway Wealth LLC boosted 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 worth $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC boosted its position in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after purchasing an additional 69 shares in the last quarter. Navigoe LLC acquired a new position in shares of GE Vernova during the 4th quarter worth $27,000. Finally, Clarity Asset Management Inc. purchased a new position in shares of GE Vernova in the 4th quarter valued at about $28,000.

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent analyst reports. CICC Research initiated coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Susquehanna restated a "positive" rating and issued a $499.00 price target (up previously from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. New Street Research set a $380.00 price objective on GE Vernova in a report on Wednesday, March 5th. Finally, Johnson Rice initiated coverage on GE Vernova in a research report on Friday, February 7th. They set a "buy" rating and a $425.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $385.78.

GE Vernova Stock Up 0.6%

Shares of NYSE:GEV traded up $2.75 during midday trading on Friday, reaching $487.06. The company's stock had a trading volume of 2,099,918 shares, compared to its average volume of 3,305,777. The firm has a market cap of $132.94 billion, a price-to-earnings ratio of 87.60, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97. The business has a 50 day moving average price of $386.29 and a 200 day moving average price of $359.63. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $500.72.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the company earned ($0.47) EPS. The firm's quarterly revenue was up 10.6% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date was Thursday, April 17th. GE Vernova's dividend payout ratio is currently 14.41%.

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.