Moss Adams Wealth Advisors LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 673 shares of the company's stock, valued at approximately $205,000.
Several other large investors also recently added to or reduced their stakes in GEV. MRP Capital Investments LLC purchased a new position in shares of GE Vernova during the fourth quarter valued at $25,000. Fairway Wealth LLC grew its holdings in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Pineridge Advisors LLC increased its position in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after purchasing an additional 69 shares during the period. Navigoe LLC bought a new stake in shares of GE Vernova in the 4th quarter valued at about $27,000. Finally, Clarity Asset Management Inc. purchased a new stake in shares of GE Vernova in the 4th quarter worth approximately $28,000.
GE Vernova Stock Down 3.2%
Shares of GEV traded down $15.43 during mid-day trading on Tuesday, reaching $464.57. The company had a trading volume of 3,940,910 shares, compared to its average volume of 3,290,604. The stock has a market capitalization of $126.80 billion, a P/E ratio of 83.56, a PEG ratio of 3.03 and a beta of 1.97. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $500.72. The stock has a 50 day moving average of $392.70 and a two-hundred day moving average of $361.82.
GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly 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. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the company posted ($0.47) earnings per share. GE Vernova's revenue for the quarter was up 10.6% on a year-over-year basis. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.22%. GE Vernova's dividend payout ratio is presently 14.41%.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on GEV. The Goldman Sachs Group increased their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday. Guggenheim reaffirmed a "buy" rating and set a $380.00 target price on shares of GE Vernova in a research report on Thursday, April 24th. TD Cowen reduced their price target on GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. New Street Research set a $380.00 price objective on GE Vernova in a research note on Wednesday, March 5th. Finally, BMO Capital Markets raised their price objective on GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $390.58.
Read Our Latest Stock Analysis on GEV
About GE Vernova
(
Free Report)
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.
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