OneAscent Investment Solutions LLC Buys Shares of 1,024 GE Vernova Inc. (NYSE:GEV)

Key Points

• OneAscent Investment Solutions LLC purchased 1,024 shares of GE Vernova Inc. (NYSE:GEV) at a value of approximately $313,000 during the first quarter.
• Institutional investors have significantly increased their stakes in GE Vernova, with Capital International Investors raising their stake by 25.3% and GAMMA Investing LLC by an astounding 32,984.2%.
• GE Vernova reported earnings of $1.86 per share for the last quarter, exceeding estimates, and announced a quarterly dividend of $0.25 per share, reflecting a 0.2% dividend yield.

OneAscent Investment Solutions LLC bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,024 shares of the company's stock, valued at approximately $313,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Westover Capital Advisors LLC increased its stake in GE Vernova by 2.3% in the 1st quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock worth $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 1st quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after purchasing an additional 28 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of GE Vernova by 0.4% in the 1st 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. Hemington Wealth Management boosted its holdings in shares of GE Vernova by 20.3% in the 1st quarter. Hemington Wealth Management now owns 178 shares of the company's stock worth $54,000 after purchasing an additional 30 shares in the last quarter. Finally, Fulcrum Equity Management boosted its holdings in shares of GE Vernova by 3.6% in the 4th quarter. Fulcrum Equity Management now owns 886 shares of the company's stock worth $291,000 after purchasing an additional 31 shares in the last quarter.

GE Vernova Stock Down 0.7%

Shares of NYSE:GEV traded down $4.07 during trading on Friday, hitting $621.20. The stock had a trading volume of 2,485,806 shares, compared to its average volume of 2,892,794. GE Vernova Inc. has a 12 month low of $173.07 and a 12 month high of $677.29. The company has a market capitalization of $169.10 billion, a PE ratio of 149.69, a PEG ratio of 4.32 and a beta of 1.90. The firm's fifty day moving average is $563.55 and its 200 day moving average is $432.98.

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

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GEV shares. Glj Research started coverage on GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating for the company. Bank of America upped their price objective on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Barclays increased their target price on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Morgan Stanley increased their target price on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. increased their target price on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $560.21.

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.