PDS Planning Inc Acquires 79 Shares of GE Vernova Inc. (NYSE:GEV)

PDS Planning Inc lifted its holdings in GE Vernova Inc. (NYSE:GEV) by 5.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,643 shares of the company’s stock after acquiring an additional 79 shares during the quarter. PDS Planning Inc’s holdings in GE Vernova were worth $502,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GEV. Chung Wu Investment Group LLC raised its position in GE Vernova by 33.9% in the 1st quarter. Chung Wu Investment Group LLC now owns 2,271 shares of the company’s stock worth $693,000 after purchasing an additional 575 shares during the period. Western Wealth Management LLC grew its stake in shares of GE Vernova by 26.5% during the first quarter. Western Wealth Management LLC now owns 3,603 shares of the company’s stock valued at $1,100,000 after buying an additional 754 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of GE Vernova by 5.1% in the first quarter. Robeco Institutional Asset Management B.V. now owns 87,135 shares of the company’s stock worth $26,601,000 after buying an additional 4,255 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of GE Vernova by 6.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 23,348 shares of the company’s stock valued at $7,128,000 after acquiring an additional 1,480 shares during the last quarter. Finally, Terra Nova Asset Management LLC boosted its holdings in GE Vernova by 13.9% during the 1st quarter. Terra Nova Asset Management LLC now owns 7,046 shares of the company’s stock valued at $2,151,000 after acquiring an additional 859 shares during the period.

GE Vernova Stock Performance

GEV stock opened at $506.74 on Friday. The firm has a 50 day moving average price of $439.93 and a 200-day moving average price of $375.18. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $522.97. The firm has a market capitalization of $138.30 billion, a price-to-earnings ratio of 73.02, a PEG ratio of 3.90 and a beta of 1.97.

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

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova’s dividend payout ratio (DPR) is 14.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. BMO Capital Markets lifted their price target on GE Vernova from $381.00 to $522.00 and gave the stock an “outperform” rating in a research note on Friday, May 30th. Barclays lifted their target price 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. Guggenheim reissued a “buy” rating and set a $380.00 price target on shares of GE Vernova in a research report on Thursday, April 24th. Jefferies Financial Group lowered shares of GE Vernova from a “buy” rating to a “hold” rating and raised their price target for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Finally, Morgan Stanley upped their price objective on shares of GE Vernova from $422.00 to $511.00 and gave the company an “overweight” rating in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $429.13.

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.