Swisher Financial Concepts Inc. Buys Shares of 784 GE Vernova Inc. (NYSE:GEV)

Swisher Financial Concepts Inc. bought a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 784 shares of the company's stock, valued at approximately $239,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. HBW Advisory Services LLC purchased a new position in GE Vernova during the 1st quarter valued at about $247,000. Merit Financial Group LLC boosted its position in shares of GE Vernova by 61.0% during the 1st quarter. Merit Financial Group LLC now owns 10,635 shares of the company's stock valued at $3,247,000 after acquiring an additional 4,030 shares during the last quarter. Harbor Investment Advisory LLC boosted its position in shares of GE Vernova by 214.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,751 shares of the company's stock valued at $535,000 after acquiring an additional 1,194 shares during the last quarter. NBC Securities Inc. lifted its position in GE Vernova by 166,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,668 shares of the company's stock worth $509,000 after buying an additional 1,667 shares during the last quarter. Finally, Talbot Financial LLC bought a new stake in GE Vernova in the 1st quarter worth approximately $6,698,000.

GE Vernova Price Performance

GEV stock traded down $4.61 during midday trading on Wednesday, hitting $488.36. The stock had a trading volume of 2,192,200 shares, compared to its average volume of 3,340,592. The firm has a market cap of $133.29 billion, a price-to-earnings ratio of 87.83, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97. The business has a 50-day moving average of $379.01 and a two-hundred day moving average of $357.63. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $500.72.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping 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 6.70% and a net margin of 4.44%. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.47) earnings per share. Research analysts predict that GE Vernova Inc. will post 6.59 earnings per share 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 $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. GE Vernova's dividend payout ratio is currently 14.41%.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of recent research reports. Susquehanna restated a "positive" rating and issued a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Royal Bank of Canada dropped their target price 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. Truist Financial set a $440.00 target price on GE Vernova in a research report on Thursday, March 27th. Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and boosted their target price for the stock from $427.00 to $517.00 in a research report on Thursday, May 29th. Finally, CICC Research initiated coverage on GE Vernova in a research report on Wednesday, February 19th. They issued an "outperform" rating for the company. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $385.78.

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.