Meeder Advisory Services Inc. Purchases 517 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• Meeder Advisory Services Inc. has increased its stake in GE Vernova Inc. by 9.7%, now holding 5,838 shares worth approximately $1.78 million after purchasing an additional 517 shares in Q1.
• GE Vernova's latest earnings report showed an EPS of $1.86, which surpassed analyst estimates by $0.23, with revenue of $9.11 billion—up 11.1% year-over-year.
• The company has declared a quarterly dividend of $0.25, set to be paid on August 18th, representing an annualized dividend of $1.00 and a yield of 0.16%.

Meeder Advisory Services Inc. raised its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,838 shares of the company's stock after purchasing an additional 517 shares during the period. Meeder Advisory Services Inc.'s holdings in GE Vernova were worth $1,782,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Physicians Financial Services Inc. bought a new position in shares of GE Vernova in the 1st quarter worth about $420,000. Patten & Patten Inc. TN increased its position in GE Vernova by 4.6% in the 1st quarter. Patten & Patten Inc. TN now owns 4,038 shares of the company's stock valued at $1,233,000 after buying an additional 176 shares in the last quarter. Evermay Wealth Management LLC increased its position in GE Vernova by 37.7% in the 1st quarter. Evermay Wealth Management LLC now owns 420 shares of the company's stock valued at $128,000 after buying an additional 115 shares in the last quarter. Avalon Capital Management increased its position in GE Vernova by 15.5% in the 1st quarter. Avalon Capital Management now owns 1,940 shares of the company's stock valued at $592,000 after buying an additional 260 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in GE Vernova by 8.5% during the 1st quarter. Mackenzie Financial Corp now owns 26,927 shares of the company's stock valued at $8,220,000 after purchasing an additional 2,119 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Susquehanna lifted their price target on GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. lifted their price target on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Bank of America lifted their price target on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and lifted their price target for the company from $427.00 to $517.00 in a research note on Thursday, May 29th. Finally, Citigroup lifted their price target on GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $560.21.

GE Vernova Trading Down 0.5%

Shares of GE Vernova stock traded down $3.63 during trading on Friday, hitting $656.66. The stock had a trading volume of 3,074,814 shares, compared to its average volume of 2,826,011. The firm has a market cap of $178.76 billion, a price-to-earnings ratio of 158.23, a P/E/G ratio of 4.56 and a beta of 1.90. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $677.29. The business's 50-day moving average is $530.40 and its 200 day moving average is $415.77.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results 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. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter in the prior year, the firm posted $4.65 earnings per share. The business's quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be given a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's payout ratio is 24.10%.

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.