Wealth Enhancement Advisory Services LLC Raises Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Wealth Enhancement Advisory Services LLC raised its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 79.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 221,507 shares of the company's stock after buying an additional 98,034 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.08% of GE Vernova worth $67,622,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tritonpoint Wealth LLC increased its holdings in shares of GE Vernova by 15.0% in the first quarter. Tritonpoint Wealth LLC now owns 721 shares of the company's stock valued at $220,000 after purchasing an additional 94 shares during the period. Stock Yards Bank & Trust Co. increased its holdings in shares of GE Vernova by 8.8% in the first quarter. Stock Yards Bank & Trust Co. now owns 2,681 shares of the company's stock valued at $818,000 after purchasing an additional 217 shares during the period. Griffin Asset Management Inc. increased its holdings in shares of GE Vernova by 14.5% in the first quarter. Griffin Asset Management Inc. now owns 10,424 shares of the company's stock valued at $3,182,000 after purchasing an additional 1,319 shares during the period. BNC Wealth Management LLC increased its holdings in shares of GE Vernova by 661.1% in the first quarter. BNC Wealth Management LLC now owns 7,192 shares of the company's stock valued at $2,196,000 after purchasing an additional 6,247 shares during the period. Finally, BigSur Wealth Management LLC increased its holdings in shares of GE Vernova by 96.6% in the first quarter. BigSur Wealth Management LLC now owns 7,003 shares of the company's stock valued at $2,138,000 after purchasing an additional 3,441 shares during the period.

GE Vernova Stock Up 0.3%

GEV opened at $490.12 on Friday. The firm has a market cap of $133.77 billion, a P/E ratio of 70.62, a PEG ratio of 3.81 and a beta of 1.97. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $500.72. The business's fifty day simple moving average is $422.24 and its 200 day simple moving average is $369.65.

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 (EPS) for the quarter, topping 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 analyst estimates of $7.56 billion. During the same period last year, the company earned ($0.47) EPS. The firm's quarterly revenue was up 10.6% on a year-over-year basis. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GEV shares. Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. BMO Capital Markets upped their price objective on GE Vernova from $381.00 to $522.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Guggenheim reaffirmed a "buy" rating and set a $380.00 price objective on shares of GE Vernova in a report on Thursday, April 24th. The Goldman Sachs Group upped their price objective on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Finally, Susquehanna reaffirmed 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. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and an average price target of $404.56.

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.

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