IAM Advisory LLC Invests $582,000 in GE Vernova Inc. (NYSE:GEV)

IAM Advisory LLC acquired a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,906 shares of the company's stock, valued at approximately $582,000.

Other large investors have also recently bought and sold shares of the company. FMR LLC boosted its holdings in 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 acquiring an additional 814,155 shares during the period. Capital International Investors lifted its position in shares of GE Vernova by 25.3% in 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 period. Geode Capital Management LLC raised its holdings 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 worth $1,898,814,000 after buying an additional 195,828 shares in the last quarter. Norges Bank acquired a new position in shares of GE Vernova in the 4th quarter worth approximately $1,109,720,000. Finally, Northern Trust Corp raised its holdings in shares of GE Vernova by 15.0% in the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after buying an additional 343,837 shares in the last quarter.

GE Vernova Trading Up 0.6%

GE Vernova stock opened at $487.06 on Friday. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $500.72. The stock's 50 day moving average is $389.72 and its 200-day moving average is $360.64. The company has a market capitalization of $132.94 billion, a price-to-earnings ratio of 87.60, a PEG ratio of 3.03 and a beta of 1.97.

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, beating the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm's revenue for the quarter 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. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's payout ratio is presently 14.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GEV shares. BMO Capital Markets raised their price target on GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Susquehanna restated a "positive" rating and issued a $499.00 price target (up from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Truist Financial set a $440.00 target price on GE Vernova in a report on Thursday, March 27th. Guggenheim restated a "buy" rating and issued a $380.00 price target on shares of GE Vernova in a report on Thursday, April 24th. Finally, CICC Research initiated coverage on GE Vernova in a report on Wednesday, February 19th. They set an "outperform" rating 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 company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $385.78.

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.

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