Perigon Wealth Management LLC Lowers Stock Position in GE Vernova Inc. (NYSE:GEV)

Perigon Wealth Management LLC lessened its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 11.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,155 shares of the company's stock after selling 515 shares during the quarter. Perigon Wealth Management LLC's holdings in GE Vernova were worth $1,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in GEV. Brighton Jones LLC boosted its stake in shares of GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after acquiring an additional 753 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new stake in shares of GE Vernova during the 4th quarter worth approximately $789,000. Oppenheimer & Co. Inc. boosted its stake in shares of GE Vernova by 30.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,398 shares of the company's stock worth $2,762,000 after acquiring an additional 1,941 shares in the last quarter. Tower Bridge Advisors purchased a new stake in shares of GE Vernova during the 4th quarter worth approximately $214,000. Finally, SVB Wealth LLC purchased a new stake in shares of GE Vernova during the 4th quarter worth approximately $1,170,000.

GE Vernova Trading Up 2.7%

Shares of GE Vernova stock opened at $520.56 on Friday. The company has a fifty day moving average price of $443.89 and a 200 day moving average price of $376.74. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $532.59. The stock has a market cap of $142.08 billion, a price-to-earnings ratio of 75.01, a price-to-earnings-growth ratio of 4.03 and a beta of 1.97.

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 for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The firm had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the prior year, the company earned ($0.47) EPS. The firm's revenue was up 10.6% on a year-over-year basis. Analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders 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 dividend on an annualized basis and a yield of 0.19%. GE Vernova's payout ratio is currently 14.41%.

Analyst Ratings Changes

Several research analysts recently issued reports on GEV shares. Morgan Stanley lifted their price objective on GE Vernova from $422.00 to $511.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 24th. TD Cowen cut their price objective 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. Barclays lifted their price objective on GE Vernova from $500.00 to $550.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Bank of America lifted their price objective on GE Vernova from $520.00 to $550.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Finally, New Street Research set a $380.00 price objective on GE Vernova in a research report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $429.13.

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.

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