Realta Investment Advisors Buys New Position in GE Vernova Inc. (NYSE:GEV)

Realta Investment Advisors acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,876 shares of the company's stock, valued at approximately $573,000.

A number of other hedge funds also recently made changes to their positions in GEV. Brighton Jones LLC raised its position in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after acquiring an additional 753 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of GE Vernova during the fourth quarter worth about $287,000. American Assets Inc. bought a new position in shares of GE Vernova during the fourth quarter worth about $658,000. PFG Advisors raised its position in shares of GE Vernova by 15.0% during the fourth quarter. PFG Advisors now owns 2,960 shares of the company's stock worth $974,000 after acquiring an additional 387 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of GE Vernova by 57.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,031 shares of the company's stock worth $668,000 after acquiring an additional 745 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GEV shares. Royal Bank Of Canada lowered their price objective on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. Susquehanna reaffirmed a "positive" rating and set a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Wolfe Research cut GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. BMO Capital Markets raised their target price on GE Vernova from $522.00 to $590.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Truist Financial set a $440.00 target price on GE Vernova in a research note on Thursday, March 27th. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $451.38.

GE Vernova Stock Performance

GE Vernova stock traded down $0.41 during mid-day trading on Friday, reaching $538.95. The stock had a trading volume of 2,285,780 shares, compared to its average volume of 3,318,687. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $546.65. The stock's 50-day simple moving average is $476.87 and its 200-day simple moving average is $389.56. The firm has a market capitalization of $147.10 billion, a PE ratio of 77.66, a price-to-earnings-growth ratio of 4.15 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. GE Vernova's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. On average, research analysts forecast 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 given a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.19%. GE Vernova's payout ratio is 14.41%.

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.