Jupiter Wealth Management LLC Purchases New Position in GE Vernova Inc. (NYSE:GEV)

Jupiter Wealth Management LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,000 shares of the company's stock, valued at approximately $329,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cedar Mountain Advisors LLC boosted its position in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after buying an additional 39 shares during the last quarter. MRP Capital Investments LLC bought a new position in shares of GE Vernova during the 4th quarter valued at approximately $25,000. Fairway Wealth LLC increased its position in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC lifted 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 valued at $27,000 after buying an additional 69 shares during the last quarter. Finally, Navigoe LLC purchased a new stake in GE Vernova during the fourth quarter valued at about $27,000.

GE Vernova Trading Up 1.4%

Shares of GEV stock traded up $6.49 during mid-day trading on Tuesday, reaching $470.88. The stock had a trading volume of 2,939,615 shares, compared to its average volume of 3,330,790. The firm has a market capitalization of $128.52 billion and a PE ratio of 84.69. The stock's 50-day moving average price is $360.85 and its two-hundred day moving average price is $351.62. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $477.91.

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

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

Wall Street Analyst Weigh In

GEV has been the subject of several analyst reports. Barclays cut their price objective on shares of GE Vernova from $487.00 to $427.00 and set an "overweight" rating for the company in a report on Monday, March 3rd. JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. New Street Research set a $380.00 price objective on shares of GE Vernova in a research note on Wednesday, March 5th. Susquehanna restated a "positive" rating and set a $499.00 price target (up from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Finally, Baird R W upgraded GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and an average target price of $374.62.

About GE Vernova

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.