Parcion Private Wealth LLC Acquires Shares of 933 GE Vernova Inc. (NYSE:GEV)

Parcion Private Wealth LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 933 shares of the company's stock, valued at approximately $285,000.

Several other institutional investors have also bought and sold shares of the stock. MRP Capital Investments LLC bought a new position in GE Vernova in the 4th quarter valued at $25,000. Navigoe LLC purchased a new position in shares of GE Vernova during the 4th quarter valued at $27,000. EQ Wealth Advisors LLC purchased a new position in shares of GE Vernova during the 1st quarter valued at $27,000. Clarity Asset Management Inc. purchased a new position in shares of GE Vernova during the 4th quarter valued at $28,000. Finally, Pinpoint Asset Management Ltd purchased a new position in shares of GE Vernova during the 4th quarter valued at $30,000.

GE Vernova Stock Up 0.9%

Shares of GE Vernova stock traded up $4.85 during trading on Friday, hitting $575.02. 2,051,713 shares of the stock traded hands, compared to its average volume of 3,302,162. The stock has a market cap of $156.94 billion, a price-to-earnings ratio of 82.86, a PEG ratio of 4.18 and a beta of 1.86. The firm's fifty day moving average is $489.76 and its 200-day moving average is $395.72. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $581.27.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the company earned ($0.47) EPS. GE Vernova's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is currently 14.41%.

Analyst Ratings Changes

GEV has been the topic of a number of recent research reports. Robert W. Baird upped their price target on GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Morgan Stanley upped their price target on GE Vernova from $422.00 to $511.00 and gave the company an "overweight" rating in a research report on Tuesday, June 24th. Barclays increased their price objective on GE Vernova from $550.00 to $580.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Guggenheim reissued a "buy" rating and set a $380.00 price objective on shares of GE Vernova in a report on Thursday, April 24th. Finally, TD Cowen dropped their price objective on GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $468.88.

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.