HCR Wealth Advisors Boosts Holdings in GE Vernova Inc. (NYSE:GEV)

HCR Wealth Advisors boosted its stake in GE Vernova Inc. (NYSE:GEV) by 24.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 993 shares of the company’s stock after acquiring an additional 197 shares during the period. HCR Wealth Advisors’ holdings in GE Vernova were worth $303,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company’s stock worth $8,177,803,000 after purchasing an additional 814,155 shares during the period. Capital International Investors increased its position in GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after buying an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of GE Vernova by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock valued at $1,898,814,000 after buying an additional 195,828 shares during the period. Norges Bank bought a new stake in shares of GE Vernova in the fourth quarter valued at $1,109,720,000. Finally, Northern Trust Corp lifted its position in shares of GE Vernova by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company’s stock valued at $865,126,000 after buying an additional 343,837 shares during the last quarter.

GE Vernova Stock Performance

NYSE:GEV opened at $490.12 on Thursday. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $500.72. The business has a 50 day moving average price of $418.66 and a 200-day moving average price of $368.60. The firm has a market cap of $133.77 billion, a PE ratio of 70.62, a price-to-earnings-growth ratio of 3.79 and a beta of 1.97.

GE Vernova (NYSE:GEV) last announced 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. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.47) EPS. Research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GEV. The Goldman Sachs Group lifted 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. Guggenheim reiterated a “buy” rating and issued a $380.00 target price on shares of GE Vernova in a research note on Thursday, April 24th. Susquehanna reissued a “positive” rating and issued a $499.00 price target (up previously from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. BMO Capital Markets raised their price objective on shares of GE Vernova from $381.00 to $522.00 and gave the stock an “outperform” rating in a report on Friday, May 30th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $422.00 price objective (up from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $404.56.

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.