N.E.W. Advisory Services LLC Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Key Points

• N.E.W. Advisory Services LLC has invested $191,000 in GE Vernova Inc. by acquiring 627 shares in the first quarter.
• GE Vernova's stock recently opened at $632.80 and has shown a 52-week range of $150.01 to $655.65, indicating significant volatility.
• Analysts have upgraded their ratings for GE Vernova, with some raising price targets to as high as $736.00, reflecting a generally positive outlook on the company's performance.

N.E.W. Advisory Services LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 627 shares of the company's stock, valued at approximately $191,000.

Several other hedge funds also recently made changes to their positions in the company. Westover Capital Advisors LLC boosted its stake in GE Vernova by 2.3% during the 1st quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock valued at $345,000 after acquiring an additional 25 shares during the last quarter. Stonebridge Financial Group LLC boosted its holdings in shares of GE Vernova by 8.9% in the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after buying an additional 28 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of GE Vernova by 0.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock worth $2,598,000 after purchasing an additional 30 shares in the last quarter. Fulcrum Equity Management raised its position in GE Vernova by 3.6% during the fourth quarter. Fulcrum Equity Management now owns 886 shares of the company's stock valued at $291,000 after acquiring an additional 31 shares in the last quarter. Finally, Dopkins Wealth Management LLC raised its position in shares of GE Vernova by 4.9% in the first quarter. Dopkins Wealth Management LLC now owns 668 shares of the company's stock valued at $204,000 after purchasing an additional 31 shares during the period.

Wall Street Analysts Forecast Growth

GEV has been the topic of several research analyst reports. Bank of America raised their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Jefferies Financial Group cut GE Vernova from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Barclays boosted their price objective on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Robert W. Baird upped their price objective on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Susquehanna increased their price objective on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $560.21.

GE Vernova Price Performance

GE Vernova stock traded down $3.63 during mid-day trading on Friday, reaching $656.66. The company had a trading volume of 3,074,814 shares, compared to its average volume of 3,673,196. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $677.29. The company has a market capitalization of $178.76 billion, a P/E ratio of 158.23, a P/E/G ratio of 4.53 and a beta of 1.86. The stock's 50-day simple moving average is $526.57 and its 200-day simple moving average is $413.87.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova's revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $4.65 earnings per share. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

GE Vernova Company 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.