MBA Advisors LLC Has $293,000 Position in GE Vernova Inc. (NYSE:GEV)

MBA Advisors LLC cut its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 43.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 961 shares of the company's stock after selling 746 shares during the period. MBA Advisors LLC's holdings in GE Vernova were worth $293,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after buying an additional 753 shares during the period. Fisher Asset Management LLC raised its position in shares of GE Vernova by 20.8% during the fourth quarter. Fisher Asset Management LLC now owns 3,237 shares of the company's stock worth $1,065,000 after purchasing an additional 557 shares during the period. Jones Financial Companies Lllp raised its position in shares of GE Vernova by 93.2% during the fourth quarter. Jones Financial Companies Lllp now owns 5,170 shares of the company's stock worth $1,701,000 after purchasing an additional 2,494 shares during the period. Steward Partners Investment Advisory LLC raised its position in shares of GE Vernova by 7.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,399 shares of the company's stock worth $5,065,000 after purchasing an additional 1,075 shares during the period. Finally, Exencial Wealth Advisors LLC acquired a new stake in shares of GE Vernova during the fourth quarter worth about $270,000.

Wall Street Analyst Weigh In

GEV has been the topic of several research analyst reports. The Goldman Sachs Group raised their target price on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Jefferies Financial Group lowered shares of GE Vernova from a "buy" rating to a "hold" rating and raised their price objective for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Glj Research assumed coverage on shares of GE Vernova in a report on Monday, June 23rd. They set a "buy" rating on the stock. Bank of America lifted their price target on GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Finally, Citigroup cut their price target on GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and an average price target of $440.04.

GE Vernova Stock Performance

GEV traded up $12.28 during trading on Friday, reaching $517.35. 1,809,150 shares of the stock were exchanged, compared to its average volume of 3,313,458. The stock has a market cap of $141.20 billion, a P/E ratio of 74.55, a price-to-earnings-growth ratio of 3.98 and a beta of 1.86. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $532.59. The stock's 50 day moving average price is $461.19 and its two-hundred day moving average price is $383.19.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. GE Vernova'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 business earned ($0.47) EPS. Equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Monday, July 21st. 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.