Kingsview Wealth Management LLC Buys 562 Shares of GE Vernova Inc. (NYSE:GEV)

Kingsview Wealth Management LLC grew its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 7.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,064 shares of the company's stock after acquiring an additional 562 shares during the quarter. Kingsview Wealth Management LLC's holdings in GE Vernova were worth $2,462,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Bailard Inc. purchased a new position in shares of GE Vernova during the 1st quarter valued at about $339,000. Ascent Wealth Partners LLC purchased a new position in shares of GE Vernova during the first quarter valued at approximately $4,937,000. Verdence Capital Advisors LLC boosted its position in shares of GE Vernova by 7.6% during the first quarter. Verdence Capital Advisors LLC now owns 3,421 shares of the company's stock valued at $1,044,000 after purchasing an additional 242 shares in the last quarter. Summit X LLC boosted its holdings in GE Vernova by 44.0% in the first quarter. Summit X LLC now owns 1,166 shares of the company's stock worth $356,000 after acquiring an additional 356 shares in the last quarter. Finally, Welch & Forbes LLC boosted its holdings in GE Vernova by 0.7% in the first quarter. Welch & Forbes LLC now owns 11,644 shares of the company's stock worth $3,555,000 after acquiring an additional 80 shares in the last quarter.

Analysts Set New Price Targets

GEV has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price objective on GE Vernova from $460.00 to $620.00 and gave the company an "overweight" rating in a research report on Wednesday. BMO Capital Markets raised their price objective on GE Vernova from $522.00 to $590.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Barclays raised their price objective on GE Vernova from $550.00 to $580.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Truist Financial set a $440.00 price target on GE Vernova in a report on Thursday, March 27th. Finally, The Goldman Sachs Group raised their price objective on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Seven equities research 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $468.88.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $575.02 on Friday. The firm has a market capitalization of $156.94 billion, a price-to-earnings ratio of 82.86, a PEG ratio of 4.33 and a beta of 1.86. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $581.27. The stock has a 50 day moving average of $493.30 and a 200 day moving average of $397.90.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. The company 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 firm's revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.47) earnings per share. Analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is presently 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.

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