Retirement Planning Group LLC NY Purchases 1,330 Shares of GE Vernova Inc. (NYSE:GEV)

Retirement Planning Group LLC NY grew its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 86.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,871 shares of the company's stock after buying an additional 1,330 shares during the period. GE Vernova makes up 0.9% of Retirement Planning Group LLC NY's portfolio, making the stock its 27th biggest position. Retirement Planning Group LLC NY's holdings in GE Vernova were worth $876,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of GEV. FMR LLC increased its position in shares of GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after buying an additional 814,155 shares in the last quarter. Capital International Investors grew its stake in GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after acquiring an additional 2,994,660 shares during the period. Geode Capital Management LLC increased its holdings 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 in the last quarter. Norges Bank acquired a new stake in shares of GE Vernova during the fourth quarter worth about $1,109,720,000. Finally, Northern Trust Corp raised its position in shares of GE Vernova by 15.0% during the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after purchasing an additional 343,837 shares during the period.

Wall Street Analysts Forecast Growth

GEV has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Truist Financial set a $440.00 price target on shares of GE Vernova in a report on Thursday, March 27th. Robert W. Baird raised their price objective on shares of GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. New Street Research set a $380.00 target price on shares of GE Vernova in a research note on Wednesday, March 5th. Finally, Citigroup dropped their price target on GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average target price of $404.56.

GE Vernova Trading Down 0.8%

Shares of GEV traded down $3.78 during mid-day trading on Friday, reaching $486.41. The company's stock had a trading volume of 4,002,218 shares, compared to its average volume of 3,269,632. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $500.72. The business has a 50-day simple moving average of $425.55 and a two-hundred day simple moving average of $370.71. The stock has a market cap of $132.76 billion, a P/E ratio of 70.09, a PEG ratio of 3.81 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 (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the firm posted ($0.47) EPS. The company's quarterly revenue was up 10.6% on a year-over-year basis. Research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's dividend payout ratio is presently 14.41%.

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.