Wedmont Private Capital Has $1.37 Million Stock Position in GE Vernova Inc. (NYSE:GEV)

Wedmont Private Capital lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,263 shares of the company’s stock after purchasing an additional 126 shares during the quarter. Wedmont Private Capital’s holdings in GE Vernova were worth $1,370,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. WASHINGTON TRUST Co grew its holdings in shares of GE Vernova by 1.9% during the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after purchasing an additional 31 shares in the last quarter. Kovack Advisors Inc. grew its holdings in shares of GE Vernova by 1.0% during the 4th quarter. Kovack Advisors Inc. now owns 3,167 shares of the company’s stock worth $1,042,000 after purchasing an additional 31 shares in the last quarter. Fulcrum Equity Management grew its holdings in shares of GE Vernova by 3.6% during the 4th quarter. Fulcrum Equity Management now owns 886 shares of the company’s stock worth $291,000 after purchasing an additional 31 shares in the last quarter. Rothschild Investment LLC grew its holdings in shares of GE Vernova by 1.7% during the 1st quarter. Rothschild Investment LLC now owns 1,965 shares of the company’s stock worth $600,000 after purchasing an additional 33 shares in the last quarter. Finally, Johnson & White Wealth Management LLC grew its holdings in shares of GE Vernova by 3.7% during the 1st quarter. Johnson & White Wealth Management LLC now owns 929 shares of the company’s stock worth $284,000 after purchasing an additional 33 shares in the last quarter.

GE Vernova Trading Up 0.6%

GE Vernova stock opened at $487.06 on Monday. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $500.72. The company has a market capitalization of $132.94 billion, a PE ratio of 87.60, a P/E/G ratio of 3.03 and a beta of 1.97. The stock has a 50-day moving average price of $389.72 and a two-hundred day moving average price of $360.91.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the company earned ($0.47) earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. GE Vernova’s dividend payout ratio (DPR) is 14.41%.

Analysts Set New Price Targets

Several analysts have recently issued reports on GEV shares. Jefferies Financial Group lowered GE Vernova from a “buy” rating to a “hold” rating and increased their target price for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Truist Financial set a $440.00 price objective on GE Vernova in a research report on Thursday, March 27th. New Street Research set a $380.00 price objective on GE Vernova in a research report on Wednesday, March 5th. Susquehanna restated a “positive” rating and set a $499.00 price objective (up from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Finally, Citigroup dropped their price objective on GE Vernova from $437.00 to $354.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. 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 company. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $385.78.

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.