1,214 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by Alpha Cubed Investments LLC

Alpha Cubed Investments 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 disclosure with the Securities & Exchange Commission. The firm bought 1,214 shares of the company’s stock, valued at approximately $371,000.

Several other large investors have also added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares during the period. Victory Capital Management Inc. grew its stake in GE Vernova by 3.2% in the fourth quarter. Victory Capital Management Inc. now owns 93,479 shares of the company’s stock valued at $30,748,000 after acquiring an additional 2,901 shares during the period. Assetmark Inc. grew its stake in GE Vernova by 20.6% in the fourth quarter. Assetmark Inc. now owns 9,270 shares of the company’s stock valued at $3,049,000 after acquiring an additional 1,581 shares during the period. Atria Investments Inc grew its stake in GE Vernova by 31.6% in the fourth quarter. Atria Investments Inc now owns 6,696 shares of the company’s stock valued at $2,203,000 after acquiring an additional 1,608 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in GE Vernova in the fourth quarter valued at approximately $287,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GEV shares. Bank of America raised their price objective on GE Vernova from $520.00 to $550.00 and gave the company a “buy” rating in a research note on Wednesday, June 11th. Robert W. Baird raised their price objective on GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. The Goldman Sachs Group raised their price objective on GE Vernova from $500.00 to $570.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. 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, June 9th. Finally, BMO Capital Markets lifted their target price on GE Vernova from $381.00 to $522.00 and gave the company an “outperform” rating in a research report on Friday, May 30th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $447.29.

GE Vernova Trading Up 2.7%

Shares of GE Vernova stock opened at $530.83 on Tuesday. The business’s fifty day simple moving average is $464.41 and its 200 day simple moving average is $384.86. The firm has a market capitalization of $144.88 billion, a P/E ratio of 76.49, a price-to-earnings-growth ratio of 3.98 and a beta of 1.86. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $544.50.

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

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.19%. GE Vernova’s payout ratio is presently 14.41%.

GE Vernova 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.