Investment Partners Asset Management Inc. Purchases 216 Shares of GE Vernova Inc. (NYSE:GEV)

Investment Partners Asset Management Inc. lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 34.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 847 shares of the company’s stock after purchasing an additional 216 shares during the quarter. Investment Partners Asset Management Inc.’s holdings in GE Vernova were worth $259,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its stake in GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after purchasing an additional 753 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of GE Vernova by 61.0% in the fourth quarter. Empowered Funds LLC now owns 7,005 shares of the company’s stock valued at $2,304,000 after buying an additional 2,653 shares in the last quarter. Angeles Wealth Management LLC acquired a new position in shares of GE Vernova during the fourth quarter valued at about $237,000. Savant Capital LLC grew its holdings in shares of GE Vernova by 1.4% during the fourth quarter. Savant Capital LLC now owns 9,324 shares of the company’s stock valued at $3,067,000 after buying an additional 130 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of GE Vernova during the fourth quarter worth about $52,000.

Analyst Upgrades and Downgrades

GEV has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target 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. Royal Bank of Canada lowered 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. New Street Research set a $380.00 target price on GE Vernova in a report on Wednesday, March 5th. Barclays lifted their target price on GE Vernova from $500.00 to $550.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Jefferies Financial Group downgraded GE Vernova from a “buy” rating to a “hold” rating and upped their price target for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Seven 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $390.58.

GE Vernova Stock Down 3.2%

GEV opened at $464.57 on Wednesday. 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 $396.05 and its two-hundred day moving average price is $362.54. The stock has a market cap of $126.80 billion, a price-to-earnings ratio of 83.56, a PEG ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the business earned ($0.47) earnings per share. GE Vernova’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were paid a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.22%. GE Vernova’s payout ratio 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.