Sunbelt Securities Inc. Purchases 1,082 Shares of GE Vernova Inc. (NYSE:GEV)

Sunbelt Securities Inc. grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 470.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,312 shares of the company’s stock after purchasing an additional 1,082 shares during the period. Sunbelt Securities Inc.’s holdings in GE Vernova were worth $433,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. MRP Capital Investments LLC acquired a new position in shares of GE Vernova during the fourth quarter valued at about $25,000. Fairway Wealth LLC raised its position in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC raised its position in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares during the last quarter. Navigoe LLC acquired a new position in shares of GE Vernova during the fourth quarter valued at about $27,000. Finally, Clarity Asset Management Inc. acquired a new position in GE Vernova in the fourth quarter worth about $28,000.

GE Vernova Price Performance

GEV opened at $465.36 on Monday. GE Vernova Inc. has a one year low of $150.01 and a one year high of $469.81. The company’s 50 day simple moving average is $358.25 and its 200-day simple moving average is $350.75. The stock has a market capitalization of $127.01 billion and a P/E ratio of 83.70.

GE Vernova (NYSE:GEV) last released its quarterly earnings results 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 net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.56 billion. During the same period in the prior year, the firm earned ($0.47) earnings per share. GE Vernova’s revenue was up 10.6% compared to the same quarter last year. As a group, analysts anticipate 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. Stockholders of record on Friday, April 18th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. GE Vernova’s dividend payout ratio (DPR) is currently 14.41%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays dropped their price target on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Johnson Rice assumed coverage on shares of GE Vernova in a research report on Friday, February 7th. They issued a “buy” rating and a $425.00 price target for the company. BMO Capital Markets dropped their price target on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Guggenheim reissued a “buy” rating and issued a $380.00 price target on shares of GE Vernova in a research report on Thursday, April 24th. Finally, Truist Financial set a $440.00 price target on shares of GE Vernova in a research report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $374.62.

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.