Peak Financial Management Inc. Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Key Points

• Peak Financial Management Inc. bought 892 shares of GE Vernova Inc. worth approximately $272,000 in the first quarter.
• Research analysts have significantly raised their price targets for GE Vernova, with JPMorgan Chase increasing it to $715 and TD Cowen to $685, indicating strong confidence in the stock.
• GE Vernova recently announced a quarterly dividend of $0.25, equating to an annual yield of 0.2%, with a payout ratio of 24.10%.

Peak Financial Management Inc. purchased a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 892 shares of the company's stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GEV. Navigoe LLC acquired a new stake in GE Vernova during the 4th quarter worth about $27,000. Clarity Asset Management Inc. bought a new stake in GE Vernova during the fourth quarter worth approximately $28,000. IMA Advisory Services Inc. bought a new stake in GE Vernova during the first quarter worth approximately $27,000. Orion Capital Management LLC bought a new stake in GE Vernova during the fourth quarter worth approximately $30,000. Finally, EQ Wealth Advisors LLC acquired a new position in shares of GE Vernova during the first quarter worth approximately $27,000.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. TD Cowen upped their target price on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Susquehanna upped their target price on GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Robert W. Baird increased 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, BMO Capital Markets raised their target price on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Trading Up 0.5%

Shares of GEV opened at $648.94 on Monday. GE Vernova Inc. has a 1 year low of $172.60 and a 1 year high of $677.29. The stock has a market cap of $176.65 billion, a P/E ratio of 156.37, a price-to-earnings-growth ratio of 4.49 and a beta of 1.90. The stock's 50-day moving average price is $548.53 and its two-hundred day moving average price is $424.45.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The business had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter in the previous year, the business posted $4.65 EPS. GE Vernova's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be given a $0.25 dividend. 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 currently 24.10%.

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.

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