GE Vernova Inc. (NYSE:GEV) Shares Purchased by Parisi Gray Wealth Management

Parisi Gray Wealth Management boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 4.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,631 shares of the company’s stock after acquiring an additional 69 shares during the period. Parisi Gray Wealth Management’s holdings in GE Vernova were worth $498,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Pallas Capital Advisors LLC raised its position in shares of GE Vernova by 161.8% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,987 shares of the company’s stock worth $1,522,000 after purchasing an additional 3,082 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of GE Vernova by 13.0% during the first quarter. Farther Finance Advisors LLC now owns 4,113 shares of the company’s stock worth $1,298,000 after buying an additional 473 shares in the last quarter. Daymark Wealth Partners LLC raised its position in shares of GE Vernova by 13.7% in the first quarter. Daymark Wealth Partners LLC now owns 7,010 shares of the company’s stock valued at $2,140,000 after buying an additional 842 shares during the last quarter. Moss Adams Wealth Advisors LLC purchased a new position in shares of GE Vernova in the first quarter worth about $205,000. Finally, Courier Capital LLC boosted its position in GE Vernova by 15.2% during the first quarter. Courier Capital LLC now owns 2,094 shares of the company’s stock worth $639,000 after acquiring an additional 277 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GEV shares. Citigroup lowered their price objective on GE Vernova from $437.00 to $354.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Guggenheim restated a “buy” rating and issued a $380.00 price objective on shares of GE Vernova in a report on Thursday, April 24th. CICC Research assumed coverage on GE Vernova in a research note on Wednesday, February 19th. They set an “outperform” rating on the stock. New Street Research set a $380.00 price target on shares of GE Vernova in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of GE Vernova from $430.00 to $460.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. 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. According to data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $385.78.

GE Vernova Trading Up 0.6%

GE Vernova stock opened at $487.06 on Monday. The stock has a 50 day moving average of $389.72 and a two-hundred day moving average of $360.91. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $500.72. The stock has a market capitalization of $132.94 billion, a price-to-earnings ratio of 87.60, a PEG ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results 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 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 6.70% and a net margin of 4.44%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the company earned ($0.47) earnings per share. Equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. The ex-dividend date was Thursday, April 17th. GE Vernova’s payout ratio is 14.41%.

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.