Physicians Financial Services Inc. Invests $420,000 in GE Vernova Inc. (NYSE:GEV)

Key Points

• Physicians Financial Services Inc. acquired 1,376 shares of GE Vernova Inc. for approximately $420,000, marking a significant investment in the company during the first quarter.
• GE Vernova reported $1.86 earnings per share for the last quarter, exceeding expectations and reflecting an 11.1% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.25, with a payout ratio of 24.10%, highlighting its commitment to returning value to shareholders.

Physicians Financial Services Inc. purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,376 shares of the company's stock, valued at approximately $420,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC grew its stake in GE Vernova by 201.7% in the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after acquiring an additional 817 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in GE Vernova by 79.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock valued at $67,622,000 after acquiring an additional 98,034 shares during the last quarter. Grandview Asset Management LLC grew its stake in GE Vernova by 48.8% in the 1st quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock valued at $656,000 after acquiring an additional 705 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in GE Vernova in the 1st quarter valued at about $328,000. Finally, GAMMA Investing LLC grew its stake in GE Vernova by 8.4% in the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock valued at $2,142,000 after acquiring an additional 542 shares during the last quarter.

GE Vernova Price Performance

NYSE GEV traded up $3.36 during mid-day trading on Thursday, hitting $658.36. The company's stock had a trading volume of 2,536,975 shares, compared to its average volume of 3,671,392. The firm has a market capitalization of $179.22 billion, a P/E ratio of 158.63, a price-to-earnings-growth ratio of 4.37 and a beta of 1.86. The stock's fifty day simple moving average is $522.53 and its two-hundred day simple moving average is $411.84. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $677.29.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.65 earnings per share. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GEV shares. TD Cowen increased their price objective on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Jefferies Financial Group cut shares of GE Vernova from a "buy" rating to a "hold" rating and increased their price objective for the company from $427.00 to $517.00 in a research note on Thursday, May 29th. BMO Capital Markets increased their price objective on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Ten equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $560.21.

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.