Merit Financial Group LLC Grows Stake in GE Vernova Inc. (NYSE:GEV)

Merit Financial Group LLC boosted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 61.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,635 shares of the company's stock after acquiring an additional 4,030 shares during the period. Merit Financial Group LLC's holdings in GE Vernova were worth $3,247,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. MRP Capital Investments LLC purchased a new stake in GE Vernova in the fourth quarter worth about $25,000. Fairway Wealth LLC boosted its holdings in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC increased its stake in shares of GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after acquiring an additional 69 shares in the last quarter. Navigoe LLC purchased a new stake in GE Vernova in the fourth quarter worth about $27,000. Finally, Clarity Asset Management Inc. bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $28,000.

GE Vernova Trading Up 0.6%

Shares of GEV stock traded up $2.75 on Friday, reaching $487.06. The company's stock had a trading volume of 2,099,918 shares, compared to its average volume of 3,305,777. The company has a market capitalization of $132.94 billion, a price-to-earnings ratio of 87.60, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97. The stock's fifty day simple moving average is $386.29 and its 200-day simple moving average is $359.63. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $500.72.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.47) EPS. Equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Analyst Upgrades and Downgrades

GEV has been the topic of several analyst reports. CICC Research assumed coverage on GE Vernova in a report on Wednesday, February 19th. They issued an "outperform" rating on the stock. Guggenheim reiterated a "buy" rating and issued a $380.00 price target on shares of GE Vernova in a research note on Thursday, April 24th. Baird R W raised shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. Jefferies Financial Group cut shares of GE Vernova from a "buy" rating to a "hold" rating and lifted their target price for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Finally, Citigroup cut their price target on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $385.78.

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.