Wealth Advisory Solutions LLC Acquires Shares of 1,098 GE Vernova Inc. (NYSE:GEV)

Wealth Advisory Solutions LLC acquired a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,098 shares of the company's stock, valued at approximately $335,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of GE Vernova during the fourth quarter valued at about $1,109,720,000. Capital International Investors lifted its position in shares of 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 during the last quarter. GAMMA Investing LLC lifted its position in shares of GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after buying an additional 2,135,066 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock valued at $432,309,000 after buying an additional 1,238,690 shares during the last quarter. Finally, FMR LLC lifted its position in shares of 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 during the last quarter.

GE Vernova Stock Performance

Shares of NYSE GEV traded down $0.41 during trading on Friday, hitting $538.95. 2,285,780 shares of the company were exchanged, compared to its average volume of 3,325,574. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $546.65. The company has a fifty day moving average price of $476.87 and a 200-day moving average price of $389.85. The firm has a market capitalization of $147.10 billion, a PE ratio of 77.66, a P/E/G ratio of 4.15 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. The firm had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The company's quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the company earned ($0.47) EPS. Research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm 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 yield of 0.19%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is 14.41%.

Wall Street Analyst Weigh In

Several analysts have commented on GEV shares. Royal Bank Of Canada decreased their price target on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. The Goldman Sachs Group increased their price target on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Guggenheim restated a "buy" rating and set a $380.00 price objective on shares of GE Vernova in a report on Thursday, April 24th. 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 report on Friday, May 16th. Finally, Robert W. Baird upped their price objective on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $451.38.

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.