Wedmont Private Capital Buys 126 Shares of GE Vernova Inc. (NYSE:GEV)

Wedmont Private Capital lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,263 shares of the company’s stock after acquiring 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 filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. MRP Capital Investments LLC acquired a new stake in GE Vernova during the fourth quarter worth approximately $25,000. Fairway Wealth LLC grew its stake 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 during the period. Pineridge Advisors LLC grew its stake in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares during the period. Navigoe LLC acquired a new stake in GE Vernova during the fourth quarter worth approximately $27,000. Finally, Clarity Asset Management Inc. acquired a new stake in GE Vernova during the fourth quarter worth approximately $28,000.

Analysts Set New Price Targets

Several research firms recently commented on GEV. Robert W. Baird raised their target price on GE Vernova from $387.00 to $405.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. TD Cowen decreased their target price on GE Vernova from $405.00 to $390.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. CICC Research assumed coverage on GE Vernova in a research note on Wednesday, February 19th. They set an “outperform” rating for the company. Royal Bank of Canada reduced their price objective on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Finally, New Street Research set a $380.00 target price on GE Vernova in a research report on Wednesday, March 5th. Seven equities research 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $385.78.

GE Vernova Price Performance

GEV opened at $487.06 on Monday. The company has a market capitalization of $132.94 billion, a price-to-earnings ratio of 87.60, a P/E/G ratio of 3.03 and a beta of 1.97. The firm’s fifty day moving average price is $389.72 and its two-hundred day moving average price is $360.91. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $500.72.

GE Vernova (NYSE:GEV) last posted 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. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.47) EPS. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova’s payout ratio is 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.