Sowell Financial Services LLC Purchases Shares of 2,232 GE Vernova Inc. (NYSE:GEV)

Sowell Financial Services LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,232 shares of the company's stock, valued at approximately $681,000.

A number of other hedge funds also recently bought and sold shares of the company. FMR LLC lifted its stake in GE Vernova by 3.4% during the fourth 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 lifted its stake in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after buying an additional 2,994,660 shares in the last quarter. Geode Capital Management LLC lifted its stake in GE Vernova by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock valued at $1,898,814,000 after buying an additional 195,828 shares in the last quarter. Norges Bank purchased a new stake in GE Vernova during the fourth quarter valued at about $1,109,720,000. Finally, Northern Trust Corp lifted its stake in GE Vernova by 15.0% during the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock valued at $865,126,000 after buying an additional 343,837 shares in the last quarter.

GE Vernova Price Performance

GEV traded down $3.78 during midday trading on Friday, hitting $486.41. 4,002,218 shares of the company's stock traded hands, compared to its average volume of 3,269,632. The company has a market cap of $132.76 billion, a PE ratio of 70.09, a price-to-earnings-growth ratio of 3.81 and a beta of 1.97. The stock's fifty day simple moving average is $425.55 and its 200-day simple moving average is $370.71. GE Vernova Inc. has a one year low of $150.01 and a one year high of $500.72.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 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 company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the company posted ($0.47) earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Analyst Ratings Changes

GEV has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. The Goldman Sachs Group upped 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. TD Cowen reduced their price objective on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Susquehanna reissued a "positive" rating and issued a $499.00 price target (up from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Finally, Wolfe Research lowered shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Eight investment 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $404.56.

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.