Wharton Business Group LLC Invests $347,000 in GE Vernova Inc. (NYSE:GEV)

Key Points

• Wharton Business Group LLC purchased 1,138 shares of GE Vernova Inc. during the first quarter, valued at approximately $347,000.
• A range of institutional investors have significantly increased their stakes in GE Vernova, including GAMMA Investing LLC, which lifted its holdings by 32,984.2% in the same quarter.
• GE Vernova announced a quarterly dividend of $0.25 per share, which will be paid on August 18th, reflecting an annualized yield of 0.2%.

Wharton Business Group LLC purchased a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,138 shares of the company's stock, valued at approximately $347,000.

Several other large investors also recently added to or reduced their stakes in GEV. Golden State Wealth Management LLC lifted its holdings in shares of GE Vernova by 201.7% in the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after buying an additional 817 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of GE Vernova by 79.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock worth $67,622,000 after buying an additional 98,034 shares in the last quarter. Grandview Asset Management LLC lifted its holdings in shares of GE Vernova by 48.8% in the first quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock worth $656,000 after buying an additional 705 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of GE Vernova in the first quarter worth $328,000. Finally, GAMMA Investing LLC lifted its holdings in shares of GE Vernova by 8.4% in the first quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock worth $2,142,000 after buying an additional 542 shares in the last quarter.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent research reports. The Goldman Sachs Group upped their price target on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Citigroup upped their target price on shares of GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Wall Street Zen cut shares of GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Mizuho cut shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 target price on the stock. in a research report on Monday, July 28th. Finally, Guggenheim cut shares of GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Ten equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and an average price target of $560.21.

GE Vernova Stock Down 2.8%

Shares of NYSE:GEV traded down $18.33 during trading on Thursday, hitting $646.22. 2,236,279 shares of the stock traded hands, compared to its average volume of 2,906,713. The company has a market cap of $175.91 billion, a price-to-earnings ratio of 155.71, a P/E/G ratio of 4.59 and a beta of 1.90. The company has a fifty day moving average price of $544.98 and a two-hundred day moving average price of $422.95. GE Vernova Inc. has a 52-week low of $165.05 and a 52-week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.65 EPS. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business 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 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's payout ratio is presently 24.10%.

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.