GE Vernova Inc. (NYSE:GEV) Shares Bought by Legacy Advisors LLC

Legacy Advisors LLC grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 28.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,931 shares of the company’s stock after purchasing an additional 425 shares during the period. Legacy Advisors LLC’s holdings in GE Vernova were worth $589,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GEV. MRP Capital Investments LLC purchased a new stake in GE Vernova during the 4th quarter worth approximately $25,000. Fairway Wealth LLC boosted its position in 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 buying an additional 55 shares during the period. Navigoe LLC acquired a new position in shares of GE Vernova in the fourth quarter worth $27,000. EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova during the first quarter worth $27,000. Finally, Clarity Asset Management Inc. purchased a new stake in shares of GE Vernova during the fourth quarter worth $28,000.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GEV shares. Wolfe Research lowered GE Vernova from an “outperform” rating to a “peer perform” rating in a report on Friday, June 13th. The Goldman Sachs Group increased their price target on GE Vernova from $500.00 to $570.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. Morgan Stanley boosted their price objective on GE Vernova from $422.00 to $511.00 and gave the stock an “overweight” rating in a research report on Tuesday. BMO Capital Markets upped their target price on shares of GE Vernova from $381.00 to $522.00 and gave the stock an “outperform” rating in a research note on Friday, May 30th. Finally, New Street Research set a $380.00 target price on shares of GE Vernova in a report on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $429.13.

GE Vernova Price Performance

NYSE GEV opened at $511.61 on Wednesday. The company has a fifty day moving average of $432.77 and a two-hundred day moving average of $373.10. The company has a market capitalization of $139.63 billion, a PE ratio of 73.72, a P/E/G ratio of 3.88 and a beta of 1.97. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $517.25.

GE Vernova (NYSE:GEV) last posted its earnings results 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 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%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.47) EPS. On average, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova’s payout ratio is currently 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.