Vivid Wealth Management LLC Invests $2.11 Million in GE Vernova Inc. (NYSE:GEV)

Vivid Wealth Management LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,903 shares of the company’s stock, valued at approximately $2,107,000.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in GE Vernova during the fourth quarter worth about $1,109,720,000. Capital International Investors raised its holdings in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares in the last quarter. GAMMA Investing LLC raised its holdings in GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock worth $653,769,000 after purchasing an additional 2,135,066 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock worth $432,309,000 after purchasing an additional 1,238,690 shares in the last quarter. Finally, FMR LLC raised its holdings in GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company’s stock worth $8,177,803,000 after purchasing an additional 814,155 shares in the last quarter.

Wall Street Analyst Weigh In

GEV has been the subject of several analyst reports. New Street Research set a $380.00 price target on shares of GE Vernova in a report on Wednesday, March 5th. The Goldman Sachs Group increased their target price on shares of GE Vernova from $500.00 to $570.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Royal Bank of Canada dropped their target price on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Bank of America increased their target price on shares of GE Vernova from $520.00 to $550.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. Finally, Wolfe Research cut shares of 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 given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $404.56.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $487.69 on Tuesday. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $500.72. The firm’s 50 day moving average price is $412.15 and its 200 day moving average price is $366.91. The firm has a market cap of $133.11 billion, a P/E ratio of 87.71, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97.

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

GE Vernova Dividend Announcement

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 was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. GE Vernova’s dividend payout ratio (DPR) is presently 14.41%.

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.