M1 Capital Management LLC Makes New $374,000 Investment in GE Vernova Inc. (NYSE:GEV)

M1 Capital Management LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,136 shares of the company's stock, valued at approximately $374,000.

Other institutional investors also recently added to or reduced their stakes in the company. WASHINGTON TRUST Co raised its stake in shares of GE Vernova by 1.9% in the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company's stock valued at $560,000 after acquiring an additional 31 shares during the last quarter. Kovack Advisors Inc. raised its position in GE Vernova by 1.0% in the 4th quarter. Kovack Advisors Inc. now owns 3,167 shares of the company's stock valued at $1,042,000 after purchasing an additional 31 shares during the last quarter. NewSquare Capital LLC raised its position in GE Vernova by 32.4% in the 4th quarter. NewSquare Capital LLC now owns 139 shares of the company's stock valued at $46,000 after purchasing an additional 34 shares during the last quarter. CWC Advisors LLC. lifted its position in GE Vernova by 2.0% during the 4th quarter. CWC Advisors LLC. now owns 1,870 shares of the company's stock worth $615,000 after buying an additional 36 shares in the last quarter. Finally, Holderness Investments Co. grew its stake in shares of GE Vernova by 3.8% during the fourth quarter. Holderness Investments Co. now owns 999 shares of the company's stock valued at $329,000 after purchasing an additional 37 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GEV. Johnson Rice started coverage on shares of GE Vernova in a research note on Friday, February 7th. They issued a "buy" rating and a $425.00 target price on the stock. TD Cowen lowered their target price on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Barclays upped their target price on shares of GE Vernova from $427.00 to $500.00 and gave the company an "overweight" rating in a research report on Friday. New Street Research set a $380.00 price target on GE Vernova in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada decreased their price objective on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $385.78.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $471.56 on Monday. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $489.13. The stock has a market capitalization of $128.71 billion and a PE ratio of 84.81. The stock has a 50 day moving average price of $371.84 and a 200 day moving average price of $355.59.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. The firm 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 6.70% and a net margin of 4.44%. The business's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.47) earnings per share. As a group, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

GE Vernova 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.