Petros Family Wealth LLC Buys New Position in GE Vernova Inc. (NYSE:GEV)

Petros Family Wealth LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,087 shares of the company's stock, valued at approximately $332,000.

Several other large investors have also recently bought and sold shares of the company. WoodTrust Financial Corp raised its position in shares of GE Vernova by 116.0% during the first quarter. WoodTrust Financial Corp now owns 2,773 shares of the company's stock worth $847,000 after acquiring an additional 1,489 shares during the last quarter. FORM Wealth Advisors LLC bought a new position in GE Vernova in the first quarter valued at about $485,000. Legacy Advisors LLC increased its position in GE Vernova by 28.2% in the first quarter. Legacy Advisors LLC now owns 1,931 shares of the company's stock worth $589,000 after purchasing an additional 425 shares during the period. Asset Management One Co. Ltd. increased its position in GE Vernova by 6.6% in the first quarter. Asset Management One Co. Ltd. now owns 117,125 shares of the company's stock worth $35,756,000 after purchasing an additional 7,301 shares during the period. Finally, Chapin Davis Inc. bought a new stake in GE Vernova during the 1st quarter worth about $325,000.

Analyst Upgrades and Downgrades

GEV has been the topic of several recent research reports. Guggenheim reaffirmed a "buy" rating and issued a $380.00 target price on shares of GE Vernova in a research note on Thursday, April 24th. Susquehanna reissued a "positive" rating and set a $499.00 price target (up from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Morgan Stanley raised their price objective on shares of GE Vernova from $422.00 to $511.00 and gave the company an "overweight" rating in a research note on Tuesday. Glj Research raised shares of GE Vernova to a "strong-buy" rating and set a $702.00 target price for the company in a report on Monday. Finally, BMO Capital Markets upped their target price on shares of GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Eight 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $429.13.

GE Vernova Stock Performance

NYSE GEV traded down $7.85 during trading hours on Wednesday, reaching $502.99. 2,474,448 shares of the company's stock were exchanged, compared to its average volume of 3,263,920. The company has a market capitalization of $137.28 billion, a price-to-earnings ratio of 72.48, a price-to-earnings-growth ratio of 3.88 and a beta of 1.97. The company's 50-day moving average is $432.77 and its two-hundred day moving average is $373.10. GE Vernova Inc. has a one year low of $150.01 and a one year high of $522.16.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The company had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the prior year, the company earned ($0.47) earnings per share. The business's quarterly revenue was up 10.6% compared to the same quarter last year. Research analysts predict that GE Vernova Inc. will post 6.59 earnings per share 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. Investors of record on Monday, July 21st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date is Monday, July 21st. GE Vernova's payout ratio is presently 14.41%.

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.