Golden State Wealth Management LLC Has $818,000 Holdings in GE Vernova Inc. (NYSE:GEV)

Golden State Wealth Management LLC grew its position in GE Vernova Inc. (NYSE:GEV) by 562.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,681 shares of the company’s stock after purchasing an additional 2,276 shares during the period. Golden State Wealth Management LLC’s holdings in GE Vernova were worth $818,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. MRP Capital Investments LLC acquired a new position in GE Vernova in the 4th quarter worth about $25,000. Fairway Wealth LLC increased its holdings in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Navigoe LLC acquired a new position in shares of GE Vernova during the 4th quarter valued at about $27,000. Clarity Asset Management Inc. acquired a new position in shares of GE Vernova during the 4th quarter valued at about $28,000. Finally, Orion Capital Management LLC acquired a new position in shares of GE Vernova during the 4th quarter valued at about $30,000.

GE Vernova Trading Down 1.5%

Shares of GEV stock opened at $502.99 on Thursday. The stock has a 50 day moving average of $436.25 and a two-hundred day moving average of $374.00. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $522.97. The company has a market capitalization of $137.28 billion, a P/E ratio of 72.48, a P/E/G ratio of 3.97 and a beta of 1.97.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. GE Vernova’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.47) EPS. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. GE Vernova’s dividend payout ratio (DPR) is presently 14.41%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Royal Bank Of Canada lowered their price objective on GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Truist Financial set a $440.00 price objective on GE Vernova in a report on Thursday, March 27th. BMO Capital Markets increased their price objective on GE Vernova from $381.00 to $522.00 and gave the company an “outperform” rating in a report on Friday, May 30th. Robert W. Baird increased their price objective on GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Finally, Morgan Stanley increased their price objective on GE Vernova from $422.00 to $511.00 and gave the company an “overweight” rating in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $429.13.

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.