Global Assets Advisory LLC Boosts Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Global Assets Advisory LLC lifted its stake in GE Vernova Inc. (NYSE:GEV) by 192.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,343 shares of the company’s stock after purchasing an additional 3,514 shares during the period. Global Assets Advisory LLC’s holdings in GE Vernova were worth $1,655,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Family Legacy Inc. boosted its stake in shares of GE Vernova by 40.1% in the 1st quarter. Family Legacy Inc. now owns 8,105 shares of the company’s stock valued at $2,474,000 after buying an additional 2,320 shares during the period. LaFleur & Godfrey LLC acquired a new position in GE Vernova during the 1st quarter worth approximately $5,636,000. Petros Family Wealth LLC purchased a new stake in shares of GE Vernova in the 1st quarter valued at approximately $332,000. WoodTrust Financial Corp increased its position in shares of GE Vernova by 116.0% in the 1st quarter. WoodTrust Financial Corp now owns 2,773 shares of the company’s stock valued at $847,000 after purchasing an additional 1,489 shares during the last quarter. Finally, FORM Wealth Advisors LLC acquired a new stake in shares of GE Vernova in the 1st quarter valued at $485,000.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Bank of America increased their target price on GE Vernova from $520.00 to $550.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. Barclays raised their target price on GE Vernova from $500.00 to $550.00 and gave the stock an “overweight” rating in a research report on Monday, June 9th. Truist Financial set a $440.00 price target on GE Vernova in a report on Thursday, March 27th. TD Cowen dropped their price target on shares of GE Vernova from $405.00 to $390.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Finally, Morgan Stanley boosted their price objective on shares of GE Vernova from $422.00 to $511.00 and gave the stock an “overweight” rating in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $429.13.

GE Vernova Trading Up 2.3%

NYSE:GEV opened at $511.61 on Wednesday. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $517.25. The stock’s 50 day simple moving average is $432.77 and its 200-day simple moving average is $373.10. The firm has a market cap of $139.63 billion, a P/E ratio of 73.72, a PEG ratio of 3.88 and a beta of 1.97.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The company had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.56 billion. During the same period in the previous year, the company posted ($0.47) EPS. GE Vernova’s revenue was up 10.6% compared to the same quarter last year. Research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.20%. GE Vernova’s dividend payout ratio is currently 14.41%.

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.