Wealthfront Advisers LLC Increases Stake in GE Vernova Inc. (NYSE:GEV)

Wealthfront Advisers LLC boosted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 4.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,676 shares of the company's stock after purchasing an additional 1,128 shares during the quarter. Wealthfront Advisers LLC's holdings in GE Vernova were worth $7,838,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GEV. Stonebridge Financial Group LLC lifted its stake in GE Vernova by 8.9% in the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock valued at $105,000 after buying an additional 28 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in GE Vernova by 0.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock valued at $2,598,000 after buying an additional 30 shares in the last quarter. Fulcrum Equity Management lifted its stake in GE Vernova by 3.6% in the fourth quarter. Fulcrum Equity Management now owns 886 shares of the company's stock valued at $291,000 after buying an additional 31 shares in the last quarter. Dopkins Wealth Management LLC lifted its stake in GE Vernova by 4.9% in the first quarter. Dopkins Wealth Management LLC now owns 668 shares of the company's stock valued at $204,000 after buying an additional 31 shares in the last quarter. Finally, Rothschild Investment LLC lifted its position in shares of GE Vernova by 1.7% in the first quarter. Rothschild Investment LLC now owns 1,965 shares of the company's stock worth $600,000 after purchasing an additional 33 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. BMO Capital Markets upped their price target on shares of GE Vernova from $522.00 to $590.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Morgan Stanley upped their price target on shares of GE Vernova from $422.00 to $511.00 and gave the company an "overweight" rating in a research note on Tuesday, June 24th. Wall Street Zen upgraded shares of GE Vernova from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Robert W. Baird raised their price target on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Citigroup restated a "neutral" rating and issued a $544.00 price target (up from $354.00) on shares of GE Vernova in a research note on Monday, July 14th. Seven investment 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $468.88.

GE Vernova Trading Up 0.9%

Shares of GE Vernova stock traded up $4.85 on Friday, reaching $575.02. The stock had a trading volume of 2,051,713 shares, compared to its average volume of 3,299,435. The business's 50 day moving average is $493.30 and its two-hundred day moving average is $397.90. The company has a market cap of $156.94 billion, a P/E ratio of 82.86, a price-to-earnings-growth ratio of 4.33 and a beta of 1.86. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $581.27.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data 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 net margin of 5.42% and a return on equity of 10.10%. GE Vernova's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.47) earnings per share. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio is 14.41%.

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.