GE Vernova Inc. (NYSE:GEV) Shares Sold by MBA Advisors LLC

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

Several other hedge funds have also made changes to their positions in the business. Conning Inc. lifted its position in shares of GE Vernova by 10.8% during the first quarter. Conning Inc. now owns 1,750 shares of the company's stock worth $534,000 after purchasing an additional 170 shares in the last quarter. Aurora Private Wealth Inc. acquired a new stake in GE Vernova in the first quarter valued at approximately $4,413,000. Davidson Trust Co. raised its holdings in GE Vernova by 9.5% in the first quarter. Davidson Trust Co. now owns 794 shares of the company's stock valued at $242,000 after acquiring an additional 69 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in GE Vernova by 2.0% in the first quarter. Checchi Capital Advisers LLC now owns 1,709 shares of the company's stock valued at $522,000 after acquiring an additional 33 shares in the last quarter. Finally, Summit Place Financial Advisors LLC raised its holdings in GE Vernova by 1.0% in the first quarter. Summit Place Financial Advisors LLC now owns 11,290 shares of the company's stock valued at $3,447,000 after acquiring an additional 113 shares in the last quarter.

GE Vernova Trading Up 2.7%

Shares of NYSE:GEV traded up $13.79 on Monday, reaching $530.83. 2,265,795 shares of the company were exchanged, compared to its average volume of 3,309,274. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $532.59. The company has a 50-day moving average of $461.19 and a 200-day moving average of $383.54. The firm has a market cap of $144.88 billion, a price-to-earnings ratio of 76.49, a price-to-earnings-growth ratio of 3.98 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the previous year, the firm earned ($0.47) EPS. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. GE Vernova's dividend payout ratio (DPR) is 14.41%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GEV. Bank of America raised their target price on shares of GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. UBS Group assumed coverage on shares of GE Vernova in a report on Monday. They set a "buy" rating and a $614.00 price objective on the stock. Barclays raised their price objective on shares of GE Vernova from $500.00 to $550.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Glj Research assumed coverage on shares of GE Vernova in a report on Monday, June 23rd. They set a "buy" rating on the stock. Finally, BMO Capital Markets raised their price objective on shares of GE Vernova from $381.00 to $522.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $447.29.

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.