Miracle Mile Advisors LLC Sells 874 Shares of GE Vernova Inc. (NYSE:GEV)

Miracle Mile Advisors LLC lessened its position in GE Vernova Inc. (NYSE:GEV) by 11.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,974 shares of the company’s stock after selling 874 shares during the quarter. Miracle Mile Advisors LLC’s holdings in GE Vernova were worth $2,129,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of GEV. Brighton Jones LLC raised its holdings in GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after acquiring an additional 753 shares during the period. Financial Advocates Investment Management bought a new position in GE Vernova in the 4th quarter worth $263,000. Silver Oak Securities Incorporated raised its holdings in GE Vernova by 17.6% in the 4th quarter. Silver Oak Securities Incorporated now owns 927 shares of the company’s stock worth $306,000 after acquiring an additional 139 shares during the period. Golden State Wealth Management LLC bought a new position in shares of GE Vernova during the 4th quarter worth about $133,000. Finally, BLB&B Advisors LLC increased its holdings in shares of GE Vernova by 5.4% during the 4th quarter. BLB&B Advisors LLC now owns 1,408 shares of the company’s stock worth $463,000 after purchasing an additional 72 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GEV shares. Jefferies Financial Group downgraded shares of GE Vernova from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. CICC Research assumed coverage on shares of GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. lifted their target price on shares of GE Vernova from $430.00 to $460.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Robert W. Baird boosted their price target on shares of GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Finally, TD Cowen reduced their price target on shares of GE Vernova from $405.00 to $390.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $385.78.

GE Vernova Stock Up 0.6%

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

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.54. The firm had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.47) EPS. Equities analysts anticipate 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 was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.21%. GE Vernova’s dividend payout ratio is currently 14.41%.

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.