Private Advisor Group LLC Boosts Stake in GE Vernova Inc. (NYSE:GEV)

Private Advisor Group LLC boosted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 24.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,484 shares of the company's stock after buying an additional 6,513 shares during the quarter. Private Advisor Group LLC's holdings in GE Vernova were worth $10,222,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GEV. FMR LLC boosted its position in shares of GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after acquiring an additional 814,155 shares during the last quarter. Capital International Investors boosted its position in shares of GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after acquiring an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of GE Vernova by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after acquiring an additional 195,828 shares during the last quarter. Norges Bank acquired a new stake in shares of GE Vernova in the fourth quarter worth approximately $1,109,720,000. Finally, Northern Trust Corp boosted its position in shares of GE Vernova by 15.0% in the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after acquiring an additional 343,837 shares during the last quarter.

GE Vernova Stock Up 0.9%

GEV stock opened at $575.02 on Friday. The company has a market capitalization of $156.94 billion, a P/E ratio of 82.86, a PEG ratio of 4.33 and a beta of 1.86. The company has a 50-day simple moving average of $493.30 and a 200 day simple moving average of $397.90. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $581.27.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping 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 firm had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the previous year, the business earned ($0.47) earnings per share. GE Vernova's revenue for the quarter was up 10.6% compared to the same quarter last year. Equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.17%. GE Vernova's payout ratio is presently 14.41%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of GE Vernova from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Barclays lifted their price objective on shares of GE Vernova from $550.00 to $580.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Jefferies Financial Group lowered shares of GE Vernova from a "buy" rating to a "hold" rating and lifted their price objective for the company from $427.00 to $517.00 in a research note on Thursday, May 29th. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $460.00 to $620.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $468.88.

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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