Massachusetts Wealth Management Has $1.83 Million Stake in GE Vernova Inc. (NYSE:GEV)

Massachusetts Wealth Management grew its holdings in GE Vernova Inc. (NYSE:GEV) by 6.7% during the first quarter, Holdings Channel.com reports. The firm owned 5,999 shares of the company’s stock after buying an additional 379 shares during the period. Massachusetts Wealth Management’s holdings in GE Vernova were worth $1,831,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. MRP Capital Investments LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at about $25,000. Fairway Wealth LLC increased its holdings in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after purchasing an additional 55 shares during the period. Navigoe LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at about $27,000. Clarity Asset Management Inc. acquired a new position in shares of GE Vernova in the 4th quarter valued at about $28,000. Finally, Orion Capital Management LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at about $30,000.

GE Vernova Trading Down 2.0%

GEV opened at $477.93 on Friday. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $500.72. The stock has a market capitalization of $130.44 billion, a price-to-earnings ratio of 85.96, a P/E/G ratio of 3.03 and a beta of 1.97. The business has a 50 day moving average of $408.13 and a 200-day moving average of $365.62.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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 company had revenue of $8.03 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.47) earnings per share. Equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given 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 (DPR) is currently 14.41%.

Analyst Ratings Changes

GEV has been the topic of a number of research reports. CICC Research initiated coverage on GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. increased their price objective on GE Vernova from $430.00 to $460.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Citigroup dropped their price objective on GE Vernova from $437.00 to $354.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Truist Financial set a $440.00 price objective on GE Vernova in a report on Thursday, March 27th. Finally, Wolfe Research downgraded GE Vernova from an “outperform” rating to a “peer perform” rating in a report on Friday. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $404.56.

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.