Vivid Wealth Management LLC Acquires New Holdings in GE Vernova Inc. (NYSE:GEV)

Vivid Wealth Management LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,903 shares of the company's stock, valued at approximately $2,107,000.

A number of other hedge funds have also recently bought and sold shares of the company. WD Rutherford LLC grew its holdings in GE Vernova by 148.5% during the 1st quarter. WD Rutherford LLC now owns 4,309 shares of the company's stock worth $1,416,000 after acquiring an additional 2,575 shares during the period. Grove Bank & Trust boosted its holdings in GE Vernova by 108.7% during the first quarter. Grove Bank & Trust now owns 144 shares of the company's stock worth $44,000 after buying an additional 75 shares during the last quarter. Sentry LLC grew its position in shares of GE Vernova by 7.6% during the 1st quarter. Sentry LLC now owns 2,064 shares of the company's stock worth $630,000 after buying an additional 146 shares during the period. Sagespring Wealth Partners LLC increased its stake in shares of GE Vernova by 16.4% in the 1st quarter. Sagespring Wealth Partners LLC now owns 2,783 shares of the company's stock valued at $850,000 after acquiring an additional 393 shares during the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in shares of GE Vernova in the 1st quarter valued at approximately $681,000.

GE Vernova Stock Performance

Shares of NYSE GEV traded up $1.46 during trading hours on Wednesday, hitting $490.12. 2,239,101 shares of the stock were exchanged, compared to its average volume of 3,269,642. The company's fifty day simple moving average is $415.39 and its two-hundred day simple moving average is $367.75. The company has a market cap of $133.77 billion, a PE ratio of 70.62, a price-to-earnings-growth ratio of 3.79 and a beta of 1.97. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $500.72.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The firm 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 business posted ($0.47) EPS. The company's revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's dividend payout ratio is 14.41%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. CICC Research started coverage on shares of GE Vernova in a report on Wednesday, February 19th. They set an "outperform" rating for the company. Truist Financial set a $440.00 price target on shares of GE Vernova in a report on Thursday, March 27th. Citigroup lowered their price objective on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Guggenheim reiterated a "buy" rating and set a $380.00 target price on shares of GE Vernova in a report on Thursday, April 24th. Finally, The Goldman Sachs Group increased their price target on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.