Retireful LLC Purchases New Stake in GE Vernova Inc. (NYSE:GEV)

Retireful LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) during the 1st quarter, HoldingsChannel reports. The firm acquired 3,455 shares of the company’s stock, valued at approximately $1,047,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. WASHINGTON TRUST Co boosted its position in GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock valued at $560,000 after purchasing an additional 31 shares during the last quarter. Kovack Advisors Inc. lifted 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 valued at $1,042,000 after buying an additional 31 shares during the last quarter. Fulcrum Equity Management grew its stake in shares of GE Vernova by 3.6% in the 4th quarter. Fulcrum Equity Management now owns 886 shares of the company’s stock valued at $291,000 after buying an additional 31 shares in the last quarter. Rothschild Investment LLC increased its holdings in GE Vernova by 1.7% in the first quarter. Rothschild Investment LLC now owns 1,965 shares of the company’s stock worth $600,000 after buying an additional 33 shares during the last quarter. Finally, Johnson & White Wealth Management LLC raised its position in GE Vernova by 3.7% during the first quarter. Johnson & White Wealth Management LLC now owns 929 shares of the company’s stock valued at $284,000 after acquiring an additional 33 shares in the last quarter.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $488.36 on Thursday. The stock has a market cap of $133.29 billion, a price-to-earnings ratio of 87.83, a PEG ratio of 3.03 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 $500.72. The firm’s 50-day simple moving average is $382.72 and its 200 day simple moving average is $358.53.

GE Vernova (NYSE:GEV) last announced 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 business 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 6.70% and a net margin of 4.44%. GE Vernova’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.47) earnings per share. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were issued a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. GE Vernova’s dividend payout ratio is currently 14.41%.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of recent analyst reports. Barclays raised their price objective on GE Vernova from $427.00 to $500.00 and gave the company an “overweight” rating in a research note on Friday, May 30th. New Street Research set a $380.00 price target on GE Vernova in a research note on Wednesday, March 5th. Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Morgan Stanley reiterated an “overweight” rating and issued a $422.00 price target (up from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Finally, Truist Financial set a $440.00 price target on GE Vernova in a research report on Thursday, March 27th. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $385.78.

GE Vernova Company 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.