Alpine Bank Wealth Management Takes Position in GE Vernova Inc. (NYSE:GEV)

Alpine Bank Wealth Management acquired a new position in GE Vernova Inc. (NYSE:GEV) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 485 shares of the company’s stock, valued at approximately $148,000.

Several other large investors have also added to or reduced their stakes in GEV. MRP Capital Investments LLC bought a new stake in GE Vernova during the 4th quarter worth about $25,000. Fairway Wealth LLC increased its position in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Navigoe LLC bought a new stake in GE Vernova during the fourth quarter worth about $27,000. EQ Wealth Advisors LLC bought a new stake in GE Vernova during the first quarter worth about $27,000. Finally, Clarity Asset Management Inc. acquired a new position in GE Vernova during the fourth quarter valued at approximately $28,000.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GEV. Bank of America boosted their price target on GE Vernova from $520.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, June 11th. JPMorgan Chase & Co. raised their target price on shares of GE Vernova from $430.00 to $460.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Wolfe Research lowered shares of GE Vernova from an “outperform” rating to a “peer perform” rating in a research report on Friday, June 13th. Morgan Stanley increased 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. Finally, Barclays boosted their price objective on shares of GE Vernova from $500.00 to $550.00 and gave the stock an “overweight” rating in a research note on Monday, June 9th. Eight investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $429.13.

GE Vernova Stock Performance

GEV opened at $502.99 on Thursday. The stock has a fifty day moving average of $436.25 and a 200-day moving average of $374.00. The company has a market capitalization of $137.28 billion, a P/E ratio of 72.48, a P/E/G ratio of 3.97 and a beta of 1.97. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $522.97.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 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%. GE Vernova’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.47) earnings per share. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share 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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova’s dividend payout ratio (DPR) is currently 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.