Kestra Private Wealth Services LLC Increases Stake in GE Vernova Inc. (NYSE:GEV)

Kestra Private Wealth Services LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 33.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,515 shares of the company's stock after buying an additional 1,867 shares during the quarter. Kestra Private Wealth Services LLC's holdings in GE Vernova were worth $2,294,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Navigoe LLC acquired a new position in GE Vernova in the 4th quarter valued at $27,000. EQ Wealth Advisors LLC acquired a new position in GE Vernova in the 1st quarter valued at $27,000. Clarity Asset Management Inc. acquired a new position in GE Vernova in the 4th quarter valued at $28,000. Pinpoint Asset Management Ltd acquired a new position in GE Vernova in the 4th quarter valued at $30,000. Finally, Orion Capital Management LLC acquired a new position in GE Vernova in the 4th quarter valued at $30,000.

Analyst Ratings Changes

Several equities analysts have issued reports on GEV shares. Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Robert W. Baird upped their price target on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research note on Thursday. Bank of America upped 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. Jefferies Financial Group cut shares of GE Vernova from a "buy" rating to a "hold" rating and upped their price target for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. Finally, Morgan Stanley upped 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. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $528.67.

GE Vernova Price Performance

NYSE:GEV traded down $1.34 on Thursday, reaching $627.70. The stock had a trading volume of 2,880,892 shares, compared to its average volume of 3,691,072. The company has a market cap of $171.32 billion, a price-to-earnings ratio of 90.36, a P/E/G ratio of 4.13 and a beta of 1.86. The firm's fifty day moving average is $502.54 and its two-hundred day moving average is $402.41. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $633.72.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The company's revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.65 EPS. As a group, research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.16%. GE Vernova's payout ratio is currently 14.41%.

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.