Spire Wealth Management Boosts Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Spire Wealth Management boosted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 23.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,680 shares of the company's stock after acquiring an additional 707 shares during the period. Spire Wealth Management's holdings in GE Vernova were worth $1,124,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after acquiring an additional 753 shares during the last quarter. Illinois Municipal Retirement Fund bought a new stake in shares of GE Vernova during the 4th quarter valued at about $789,000. Whipplewood Advisors LLC acquired a new stake in GE Vernova during the fourth quarter worth approximately $261,000. New York Life Investment Management LLC increased its holdings in GE Vernova by 12.1% in the fourth quarter. New York Life Investment Management LLC now owns 40,932 shares of the company's stock worth $13,464,000 after purchasing an additional 4,418 shares in the last quarter. Finally, Kovack Advisors Inc. increased its holdings in GE Vernova by 1.0% in the fourth quarter. Kovack Advisors Inc. now owns 3,167 shares of the company's stock worth $1,042,000 after purchasing an additional 31 shares in the last quarter.

GE Vernova Price Performance

Shares of NYSE GEV traded up $13.75 during midday trading on Friday, reaching $520.56. The company's stock had a trading volume of 9,147,914 shares, compared to its average volume of 3,290,915. The stock has a market capitalization of $142.08 billion, a P/E ratio of 75.01, a PEG ratio of 4.03 and a beta of 1.97. The firm has a 50 day moving average price of $443.89 and a 200-day moving average price of $376.74. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $532.59.

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 analysts' consensus estimates of $0.37 by $0.54. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted ($0.47) earnings per share. On average, equities analysts predict 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 will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is currently 14.41%.

Analysts Set New Price Targets

Several brokerages have recently commented on GEV. Truist Financial set a $440.00 price objective on shares of GE Vernova in a research report on Thursday, March 27th. Susquehanna reiterated a "positive" rating and set a $499.00 price objective (up previously from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. Robert W. Baird raised their target price on GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. New Street Research set a $380.00 price target on GE Vernova in a research note on Wednesday, March 5th. Finally, Morgan Stanley raised their price objective on GE Vernova from $422.00 to $511.00 and gave the company an "overweight" rating in a research note on Tuesday, June 24th. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and an average price target of $429.13.

GE Vernova Company 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.