GE Vernova Inc. (NYSE:GEV) Position Raised by Western Wealth Management LLC

Western Wealth Management LLC increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 26.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,603 shares of the company’s stock after purchasing an additional 754 shares during the period. Western Wealth Management LLC’s holdings in GE Vernova were worth $1,100,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MRP Capital Investments LLC bought a new stake in GE Vernova during the fourth quarter worth approximately $25,000. Fairway Wealth LLC raised its holdings in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Navigoe LLC bought a new stake in GE Vernova during the fourth quarter worth approximately $27,000. Clarity Asset Management Inc. bought a new position in shares of GE Vernova in the fourth quarter valued at $28,000. Finally, Orion Capital Management LLC bought a new position in shares of GE Vernova in the fourth quarter valued at $30,000.

Analyst Ratings Changes

Several research analysts have issued reports on GEV shares. Truist Financial set a $440.00 price target on GE Vernova in a report on Thursday, March 27th. Robert W. Baird upped their price target on GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. The Goldman Sachs Group upped their price target on GE Vernova from $500.00 to $570.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Jefferies Financial Group cut GE Vernova from a “buy” rating to a “hold” rating and upped their price target for the company from $427.00 to $517.00 in a report on Thursday, May 29th. Finally, Wolfe Research cut GE Vernova from an “outperform” rating to a “peer perform” rating in a report on Friday, June 13th. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $429.13.

GE Vernova Stock Performance

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

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.47) EPS. On average, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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